LJN’s Mr Action was a lower cost GI Joe knock off that judging by all the parts and pieces I find, sold pretty darn well in the early 1970s.
This seems to be an attempt for LJN to knock off Mattel’s Heroes in Action trading on Mr Action’s name.
I honestly don’t know if these ever got made.
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I think I bought a similar toy soldier, from the 1970s. I don't think he was from the "Fighting Men!" toy line. He also had the WW2, U.S. Army-looking uniform.
I think he came on a possibly-removable, square + flat stand. Maybe he was made by the Matchbox [R] toy cars company.
They did as there are 2 currently for sale
On eBay uk.