Stan Lee has dropped his $1 billion lawsuit against POW! Entertainment, a company he co-founded.
Per THR, Lee released an official statement announcing the lawsuit has now been dropped. Lee was suing POW! on the grounds that the company and two of its officers stole his name and likeness to sell POW! to a Chinese company, saying the terms were never disclosed to him.
Lee also accused POW! CEO Shane Duffy and co-founder Gill Champion of fraudulently obtaining a document in which Lee gave over exclusive rights to his likeness and identity to the company.
Source: IGN.com Stan Lee Drops Billion Lawsuit Against POW! Entertainment