Lex Luthor - Man of Steel: This five issue mini-series offers a different look on the character of Lex Luthor. It explores the motivations behind why Lex is against Superman. One of the best Lex Luthor stories to date.
Forever Evil: While not entirely centered around Lex Luthor, he is still very much a large part of the story. The evil Earth-3 variant of the Justice League, the Crime Syndicate, invades Prime Earth in an attempt to take it over. This story explores Lex's more heroic nature and helps counteract the cold-blooded villain persona that he is so often portrayed as.
All-Star Superman #5: Clark Kent and Lex Luthor spend some prison time together in this issue of All-Star Superman! This story helps humanize Lex and, much like the others, help readers see that he's not entirely evil.
Action Comics #23 - Dead Men Tell No Tales; The Treasure Tower (1940) - The first appearance of Luthor which featured quite a different Lex to what we are now used to.
Superman #164 - The Showdown Between Luthor and Superman! (1963) - Lex Luthor challenges Superman to a one on one fight without his superpowers on a planet with a red sun. This sounds like a simple Lex/Superman fight, but it was one of the earliest comics which humanized Lex Luthor and by the end of the comic, he becomes a hero to a whole civilization.
Blackest Night (2009) - Luthor has a small but important role in this Universe changing arc. In it he gains the orange power ring of greed, forced to battle those he's killed and is forced to help save Earth.
The Black Ring (2010) - A storyline focusing entirely on Lex Luthor and his Robot Lois Lane, with appearances by quite a few other DC Villains. In the wake of Blackest Night, Luthor sets out to gain the black power rings for himself. This storyline grounds Luthor and gives us a look into his mind (Figuratively and Literally).
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