Spider-Man may never have taken money for his work as a crime fighter but a federal court judge in New York ruled that his creator, Stan Lee, is entitled to 10 percent of the profits Marvel Comics made from movies like Spider-Man, the X-Men and 'the Fantastic Four.'
The judge ruled that Lee, 82, is entitled to 10 percent of the film profits based on an agreement he signed with Marvel back in 1998. Lee has been working for the company almost continually since 1939.
'It could be tens of millions of dollars. That's no exaggeration,' Lee's attorney, Howard Graff, told the Associated Press.
The first 'Spider-Man' film grossed more than $800 million worldwide and Marvel made approximately $50 million from the film. The sequel was also extremely successful as were the two 'X-Men' movies. Lee also stands to receive profits from 'The Incredible Hulk,' 'Daredevil' and the upcoming 'Fantastic Four' film.
Marvel's attorney, John Turitzin, said the company will appeal. 'We intend to appeal those matters on which we did not prevail, and to continue to contest vigorously the claims on which the court did not rule,' Turitzin said in a statement.
Brad Kurtzberg