United News International (UNI)- According to published reports, comic book creator Stan Lee has dropped a $1 billion lawsuit against POW! Entertainment.
The Marvel Comics legend had sued the company — claiming he had been tricked into signing over his name and likeness rights.
That was two months ago, but now, Lee said he’s “thrilled” to be moving on.
Lee said in a statement to The Hollywood Reporter on Monday, July 9 that he was ready to get back to business with his “friends and colleagues” at POW!.
He added he wanted to “launch the next wave of amazing characters and stories.”
POW! CEO Shane Duffy, meanwhile, said he was ecstatic that the “ill-founded” lawsuit had been dismissed.
Lee filed the lawsuit back in May in a Los Angeles court alleging the company conspired to steal his identity, name and likeness in a “nefarious scheme.”