Disney gained rights in the three cartoon series when it purchased US television company Fox Family Worldwide in 2001. The suit, filed on Friday, alleges that Disney has not kept proper accounting records of the royalties due to Marvel.
Marvel also charges that while some royalties have been paid, it is due millions in unpaid royalties and that Disney has not been aggressive enough in marketing the cartoons, particularly in light of the recent blockbuster Spider-Man and Hulk films.
The first Spider-Man movie, starring Toby Maguire, became the highest grossing film of 2002, taking over $800 million at cinemas worldwide. Combined with DVD sales, it generated more than $1.3 billion in revenue. This year's sequel has generated around $502 million worldwide so far.
According to the BBC, the suit says, "Disney's accounting statements ask Marvel to swallow as reality the tall tale that Disney has continued to lose money on the popular series and that Marvel is not entitled to any profit distribution".
Marvel settled another lawsuit, against Sony Pictures Entertainment, in April last year, alleging fraud and saying that Sony misappropriated Spider-Man for itself to the exclusion of Marvel, despite promises of unparalleled merchandising opportunities.