Loni was a greedy opportunist, always on the lookout for a man who could provide her with a life of wealth and privilege. She found such a man in industrialist Howard Stark. The two were married and they remained together until Howard's company, the Stark Defense Corporation, began suffering financially. This was due largely to Howard's investment in Biotech Armor, whose untested processes caused Stark's stock to plummet. Fearing for her future, Loni divorced Stark and took half of his assets in the settlement and then began sleeping with Zebediah Stane, Stark's chief competitor. Loni (being a gold digger) agreed with Stane in taking Stark's company apart (Howard was most likely too distracted as his second wife gave birth their son). Later, Loni had her and Stane's son.

After Stane was sent to prison for kidnapping Stark's young son, Loni divorced Stane and acquired even more money from the settlement. Sometime later, she meets a teenage Tony Stark and his friend James Rhodes as well as seeing the younger Stark's prototype armor. She later pleaded with her ex-husband to provide Obadiah Stane (her son) with a secure education via a stay at the government think tank known as the Baxter Building.

Later, Tony thinks it was Loni that's the mastermind behind the scenes trying to kill them and set off to Utah to find Loni. When they arrive, Obadiah falls off a cliff but Tony (in his prototype Iron Man armor) catches him as terrorists arrive on the scene. Tony flees, but follows them as they take Obadiah to Loni and their hideout. When Tony breaks into the compound, Loni floods it with poison gas trying to kill him, abandoning Obadiah. Stark saves Obadiah, but Howard and Nifara are taken captive by Loni. After killing Nifara and the guards (because she wanted no witnesses), Loni confesses to the elder Stark that all she ever wanted was power. That’s why she married Howard, divorced him, married Zebadiah, had Obadiah, and later had Zebadiah killed.

Tony shows up, and Loni shoots Howard in the chest, threatening to shoot him again if he doesn't take the suit off. After Tony takes off his armor, Loni says she wondered what it was like if she stayed with Howard, had given him a child, and if she had been Tony's mother. Then, Loni shoots him in the head, not knowing that his entire body is a brain and will heal itself. Tony fights Loni, beats her, and tends to Howard. Obadiah, mad that Loni (his mother) abandoned him for dead with the poison gas, enters the room and kills her.

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