RED HERRING follows up on the news that Stan Lee Media is suiing Marvel, and Stan Lee is Suing Stan Lee Media, with the news that Stan Lee Media will almost certainly countersue Stan Lee! Financier/whistleblower Jim Nesfield, who revived Stan Lee Media last year, explains:

“He’s calling me a rogue opportunist,” said Mr. Nesfield. “He’s a rogue employee.”

He alleged that assets including characters such as the Drifter and the Accuser were transferred into an entity known as SLC LLC that was never actually created, and that there was an undisclosed conflict of interest involving a principal in the company.

The suit, he added, will probably be filed either later this week or next. No amount has been set yet. However, the transferred assets were recognized during the bankruptcy proceedings as being worth between $4 million to $7 million over a five-year period.