Lex Luthor has been elected President during a severe economic depression. Under his leadership, the economy begins to thrive, he assembles a force of government-employed superheroes consisting of Captain Atom, Katana, Black Lightning, Power Girl, Starfire, and Major Force. Superman and Batman maintain their distrust toward Luthor.
The government discovers a massive Kryptonite meteor hurtling towards Earth. Luthor decides to destroy it with nuclear missiles. He arranges a meet with Superman in Gotham under the pretense of forming a pact, only to result in a battle with the hired Metallo them, in which Metallo injure them both before an unknown assailant kills him. On TV, Luthor pins Metallo's murder on Superman, using footage of battle and places a one-billion-dollar bounty on Superman.
Army of villains looking to collect the bounty attacks them. They easily overpower most of them while Captain Atom defeats the rest. All of Luthor's superhero team except Power Girl attempt to capture them.
Power Girl don´t believe Superman killed Metallo. Luthor's team catch up and the fight begins anew with Power Girl, Batman and Superman until Batman realizes that Major Force killed Metallo under Luthor's orders and force him to admit it to everyone.
Luthor want let the meteor hit the Earth and he plans to rebuild society in his image, making himself Earth's single leader.
Superman knocks Luthor out of the sky and apprehends him. Batman succeeds in destroying the meteor.
