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Superhero creator and legend Stan Lee has filed a lawsuit in excess of billion against a company he co-founded.The suit, filed Tuesday Los Angeles Superior Court, alleges that Pow! Entertainment conspired with two employees to steal Lee's identity.According to the lawsuit obtained by CNN, Pow! Entertainment CEO Shane Duffy and co-founder Gill Champion "conspired and agreed to broker a sham deal to sell POW! to a company in China and fraudulently steal Stan Lee's identity, name, image, and likeness as part of a nefarious scheme to benefit financially at Lee's expense."The complaint centers around the 2017 sale of the company to Hong Kong-based Camsing International.Lee, Champion, and Arthur Liberman formed Pow! Entertainment in 2001, the suit states.Lee, who helped create Black Panther, Iron Man, the X-Men and countless other Marvel characters in comic books and on the big screen, was led to believe he had entered into a non-exclusive licensing agreement with Pow!, according to the complaint.Lee says the defendants fraudulently obtained his signature, allowing Pow! Inc. to gain "the exclusive right to use Lee's name, identity, image and likeness on a worldwide basis in perpetuity."The complaint also states that Duffy, Champion and Lee's former business manager Jerardo Olivarez (who is not named as a defendant in the suit) took advantage of his grief over the death of his wife of 70 years, Joan B. Lee, last year and his poor eyesight due to macular degeneration.In the suit, Lee alleges that Olivarez managed to convince him to sign a power of attorney to gain control over Lee's assets.Duffy and Champion have not responded to CNN's request for comment.CNN has reached out to Lee and Pow! Entertainment for comment. "Lee does not recall anyone reading the Illegitimate Document to him, and, due to his advanced macular degeneration, he could not have read it himself," the complaint states.Lee filed a separate suit against Olivarez in April, alleging fraud and financial abuse of an elder.CNN was unsuccessful in attempts to reach Olivarez.But in April, Olivarez denied to The Hollywood Reporter that he had misappropriated Lee's funds."Mr. Lee told me I had given him a new lease on life after Mrs. Lee's passing," Olivarez said. "I had looked out for him during recent contract negotiations with Pow! [Entertainment]. He gave me a check as a thank-you."In the days after his wife's death, the suit alleges that certain individuals took great advantage of Lee by firing his banker and his longtime lawyers, along with transferring almost million out of one of his accounts, forging a 0,000 check, and buying a 0,000 condo.The suit follows an investigative piece by The Hollywood Reporter about possible elder abuse involving Lee, who is 95.A tweet from Lee's official Twitter account on Tuesday referenced identity theft."Help! Someone has hijacked my Facebook and Instagram," the post read. "I want everyone to know whoever is writing them is a fraud and is impersonating me. How do I get them back? Can you guys help?"  3071

Thanks to an eagle-eyed sergeant from @NYPDTransit, this suspect has been apprehended and charged. https://t.co/cKtkgzc3vU— NYPD NEWS (@NYPDnews) November 14, 2020 171

SYLMAR, Calif. (KGTV) - A freeway sign indicating drivers were using Interstate 5 South fell into traffic lanes Friday afternoon at the start of the holiday travel rush in Sylmar, north of Los Angeles.A driver reported to the California Highway Patrol that most of the sign fell into the middle lanes of I-5 at SR-14 at 1:15 p.m. Some parts of the sign were left dangling from the rigging.At least one driver hit some of the debris, according to the CHP’s online report. There were no reports of any injuries.Officers shut down south I-5 and diverted traffic into truck lanes, backing up the freeway into Santa Clarita.Caltrans crews removed the dangling sign and traffic on south I-5 was reopened about 3:30 p.m.The cause of the fall is under investigation. 766

Starting Social Security early typically means getting a smaller benefit for the rest of your life. The penalty is steep: Someone who applies this year at age 62 would see their monthly benefit check reduced by nearly 30%.Many Americans have little choice but to accept the diminished payments. Even before the pandemic, about half of retirees said they quit working earlier than they’d planned, often due to job loss or health issues. Some have enough retirement savings to delay claiming Social Security, but many don’t. And now, with unemployment approaching Depression-era levels, claiming early may be the best of bad options for older people who can’t find a job.But the penalty for early filing, and the bonus for delaying your application, are based on old formulas that don’t reflect gains in life expectancy, says economist Alicia Munnell, director of the Center for Retirement Research at Boston College. The result is a system that unfairly penalizes early filers, unjustly benefits late filers — and hurts lower-income people the most.“Low-income people disproportionately collect benefits at 62 and their benefits are cut too much, and high-income people disproportionately delay claiming till 70 and their benefits are increased too much,” Munnell says. “So you penalize the low-income and you benefit the high-income.”The problem started off as a solutionOriginally, Social Security had one retirement age: 65. In 1956, Congress authorized a reduced benefit for women, to allow them to retire at the same time as their typically older husbands. The reduced benefit option was extended to men in 1961.The amount of the reduction was meant to be “actuarially neutral,” so that the cost to Social Security would be the same whether those with average life expectancies claimed the smaller check earlier or the larger check later.As life expectancies rose, though, early filers wound up living with the penalty for longer. In 1956, a 65-year-old woman had an average life expectancy of 16.9 years. Today, it’s 21.6 years, Munnell says. Instead of being actuarially neutral, in other words, the current system results in early filers with average life expectancies getting less.On top of that, Social Security offers a bonus for those who can afford to wait. A 1% delayed retirement credit was introduced in 1972, and the amount was increased over the years to the current 8%. So each year you put off claiming Social Security past your full retirement age adds 8% to your payment. Full retirement age varies according to birth year and is 67 for people born in 1960 or later.Let’s say your full retirement age is 67 and your benefit, if started then, would be ,000 a month. Starting at 62 would shrink the benefit to 0, while waiting until 70 to begin would boost the amount to ,240.The longer you live, the more you can benefit from a delayed filing — and the higher your income, the longer you’re likely to live. In fact, most of the gains in life expectancy in recent years have accrued to higher-income people.Between 2001 and 2014, for example, life expectancy rose by more than two years for men and nearly three years for women with incomes in the top 5%, according to a study for the Social Security Administration. During the same period, life expectancies for those in the bottom 5% of incomes rose a little less than four months for men and about two weeks for women.How benefits could change to be fairerTo restore actuarial fairness, the penalty for early filing should be lower, Munnell says. Someone who retires at 62 instead of 67 should get 22.5% less, rather than 30% less. Similarly, the bonus for waiting should be reduced to just below 7% per year.“The way it’s set up now, people will get 124% of their full benefit if they wait till 70 and they really should only get 120%,” Munnell says.Obviously, Social Security has bigger problems. Once its trust fund is depleted, as projected in 15 years or so, the system will be able to pay only 79% of promised benefits in 2035. That proportion is estimated to drop to 73% by 2094.When Congress finally gets around to fixing the system, Munnell says, it should consider making the payouts more fair.“I think there’ll be some grand bargain on Social Security at some point because I don’t think anybody’s really going to allow benefits to be cut 25%,” Munnell says. “This [actuarial fairness] probably should be put on the agenda.”This article was written by NerdWallet and was originally published by the Associated Press.More From NerdWalletHow to Renegotiate Your Bills to Save MoneyFeeling Out of Control? These Money Moves Could HelpRenters at Risk: Ways to Cope in the Financial CrisisLiz Weston is a writer at NerdWallet. Email: lweston@nerdwallet.com. Twitter: @lizweston. 4771

The Boston Marathon clarified on Sunday its policy on allowing transgender athletes to compete in its annual event, saying that athletes do not have to share their gender history with race officials, NPR reported. The Marathon also confirmed that transgender runners have competed in past events. "We don't require that runners outline their gender identity history with us, so we can't say for certain how many trans runners are in our race," the Boston Athletic Association, organizer of the annual Boston Marathon, said in a statement to NPR. "We do know that we have had several transgender runners in the past."Last month in the Canadian publication "Running Magazine," three transgender women told the magazine that they plan on competing as women in this year's Boston Marathon, which will be held on April 16. The story drew questions on whether transgender athletes competing as women would be at an advantage. Although the Boston Marathon is generally considered a competition for amateur athletes, it has strict qualification standards based on athletes' age and gender. Before the 2016 Summer Olympics, the International Olympic Committee developed criteria to ensure that transgender athletes could compete in their desired gender, while trying not to give any competitive advantage. The IOC developed limits to the testosterone levels of transgender female athletes. For transgender males, they are able to compete in the Olympics without restriction. 1538

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