Stephen Baldwin Sues Costner's Lawyer Over Oil Device Deal
- Photo: Jim Spellman/WireImage1 of 17
- Photo: Nector Marmolejos/WENN.com/WENN2 of 17
- Photo: DCA/WENN3 of 17
- Photo: Aaron Crisler/Retna Ltd.4 of 17
- Photo: Matt Sayles/Invision/AP5 of 17
- Photo: WENN6 of 17
- Photo: CNN/WENN7 of 17
- Photo: Ibanez/Pictorica/NPG8 of 17
- Photo: Fame Flynet9 of 17
- Photo: Marcus Brandt/ddp/Invision/AP10 of 17
- Photo: Parade11 of 17
- Photo: Georgios Kefalas/Invision/AP12 of 17
- Photo: Schultz-Coulon/WENN13 of 17
- Photo: Charley Gallay/Getty Images North America14 of 17
- Photo: Warner Bros.15 of 17
- Photo: Ray Garbo/WENN16 of 17
More Celeb News
- Hulu Plus Scores 'Sleepy Hollow's' Exclusive Streaming RightsMSNEntertainment 8/22/2014 2:07:00 PM
- 'Redskins' Banned by Washington Post Editorial PageMSNEntertainment 8/22/2014 1:50:00 PM
- 'The Phone Call' Director Mat Kirkby's Next Project Will Make '5MSNEntertainment 8/22/2014 1:42:00 PM
- Stephen Gaghan to Direct 'White City' Pilot for AMCMSNEntertainment 8/22/2014 1:14:00 PM
- 'Orange Is the New Black' to Bring Lori Petty Back for Season 3MSNEntertainment 8/22/2014 12:22:00 PM
- Hulu Plus Scores 'Sleepy Hollow's' Exclusive Streaming Rights
Stephen Baldwin and his business partner are again suing Kevin Costner's lawyer with cheating them out of a lucrative deal with oil company BP.
Baldwin and Spyridon Contogouris have already lost a legal battle with Costner over the sale of their shares in an oil filter device that could have made them multi-millionaires.
They claimed Costner and his Ocean Therapy Solutions partners cheated them by hiding details about a deal made with BP following the Gulf Coast oil spill in 2010.
BP bosses made an $18 million advance payment for 32 devices developed by Costner's company in an effort to be better prepared for another oil leak disaster, and Baldwin claimed he should have been told about the potential agreement before selling his shares in the company.
Baldwin lost the battle, but now he's demanding a new trial because of excluded evidence, according to The Hollywood Reporter.
The actor and his partner have filed a $10 million lawsuit, alleging that Costner's attorney, Daniel Grigsby, demonstrated professional negligence and breached fiduciary duties by concealing details about the BP deal as he was drafting the buyout agreements for Baldwin and Contogouris.
Baldwin and Contogouris allege they were led to believe that there was no deal on the horizon, and therefore the buyout agreement that was drafted by Grigsby was a "sham."
Check out the sweet shots Jaime King, Mario Lopez, Snooki and more stars shared of their babies on today's Celebs Gone Social.Watch Video »
Check out some of the most memorable Emmy fashion from over the years.Watch Video »
Check out Jessica Alba's baseball skills on today's Celebs Gone Social, hosted by Wonderwall Editor Jessica Wedemeyer.Watch Video »
Sofia Vergara poses in a revealing neon bikini while her "Modern Family" castmates hit the beach in Australia on Celebs Gone Social.Watch Video »
Check out Kaley Cuoco's cutest canine-centric posts on social media on today's Celebs Gone Social.Watch Video »
Hot and Cold
Watch Hilary Duff and more stars take the ice bucket challenge on today's Celebs Gone Social.Watch Video »
Like us on Facebook?
UP NEXTBare Beauties
From Crowd Ignite