(UPDATE: Costner’s rep tells EW that the actor’s lawyers filed a Motion to Dismiss Feb. 1. According to his rep, “[The Motion states] that there are no allegations or claims even in the complaint itself that Costner did anything wrong or participated in any way in the decision by Baldwin and Contogouris to sell their interests in Ocean Therapy Solutions back to another member of that company or the repurchase of those interests.”) Stephen Baldwin is suing Kevin Costner for $3.8 million over a tiff involving oil-separating technology that the Waterworld actor pushed to help solve the BP oil spill in the Gulf of Mexico. A complaint filed in Louisiana District Court alleges that Baldwin and friend Spyridon Contogouris entered into a joint agreement to help market the technology — developed under the Costner in Nevada Corporation (CINC) — to BP following the spill. Court papers, however, claim Costner excluded them from a meeting with BP that resulted in an $18 million down payment for the CINC technology. After allegedly not being told of the meeting, Contogouris and Baldwin claim Costner used the $18 million to buy them out of the enterprise, forcing them to give up approximately $2 million of their shares one day prior to BP’s $52 million purchase of CINC technology. Contogouris is suing for $10.64 million; both plaintiffs are claiming securities fraud and misrepresentation.
Stephen Baldwin spills lawsuit on Kevin Costner
- 'Gotham' up, 'Selfie' down? Insiders predict fall TV rookie prospects
- 20 most compelling actor/director teams now
- 'Big Brother' recap: Final three houseguests are...
- Sarah Paulson on 'AHS: Freak Show': 'something happens in the very first episode that's crazy'
- 'Red Band Society' debuts: First impressions?
- 'Top Chef Duels' recap: Nyesha Arrington vs. Jennifer Carroll
- Kunal Nayyar sings Boyz II Men on 'Queen Latifah Show': Sneak peek
- 'This Is Where I Leave You' review: Reunited and it feels so...schmaltzy
Top 5 Most Read
- 'Big Bang Theory' star Kaley Cuoco explains why she chopped off her long locks
- 'The Walking Dead' star Andrew Lincoln says to fear the beard in season 5
- '7th Heaven' cast, minus Ruthie, reunites
- Frankie of 'Big Brother' says he does not regret pushing the Rewind button and wants to marry Zach
- 'Breaking Bad,' 1 year later: Emmy-winning team tells 'Ozymandias' secrets