News : 2003 : Marvel Sues Sony

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While details are being kept hidden, Marvel has filed a suit against Sony. Here are the details:

PRESS RELEASE

"Earlier today Marvel Characters, Inc. a wholly-owned subsidiary of Marvel Enterprises, filed a suit in Superior Court of the State of California, County of Los Angeles concerning a licensing agreement with Sony Pictures Entertainment Inc. and SPE Spider-Man GP Inc. The suit was filed under seal pursuant to California Rule Of Court 243.2 and confidentiality provisions in the companies' agreement.

"The complaint is not an attempt to stop production of the Spider-Man sequel slated for May 2004 nor is it an attempt to change or upset any of the merchandising/licensing deals that are in place for the sequel. Additionally, while the litigation is not expected to have any material negative impact on Marvel's financial results or on its guidance for 2003 and beyond, a successful resolution of the matter would be anticipated to have a positive financial effect upon Marvel's future operations. Given confidentiality requirements related to the agreement, Marvel is unable to comment further on the matter."