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
- Senator Al Franken to Netflix CEO: What's Your Take on the Comcast-Time Warner Deal?MSNEntertainment 4/16/2014 5:05:00 PM
- 'Of Mice and Men' Theater Review: James Franco, Chris O'Dowd Bring VibranMSNEntertainment 4/16/2014 4:30:00 PM
- Top Hollywood Publicist Leslie Sloane Exits BWR After 17 Years (Exclusive)MSNEntertainment 4/16/2014 4:28:00 PM
- Megan Ellison's Annapurna Pictures Developing First TV Project With 'True Blood,&aMSNEntertainment 4/16/2014 3:53:00 PM
- Los Angeles Register Launches With Upbeat News MixMSNEntertainment 4/16/2014 3:50:00 PM
- Senator Al Franken to Netflix CEO: What's Your Take on the Comcast-Time Warner Deal?
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."
Where Are They?
See what the cast of "Sabrina the Teenage Witch" is up to today.Watch Video »
Shemar Moore shouts out all his “baby girls” and shows off his impressive shirtless body on today's Celebs Gone Social.Watch Video »
Where are they?
See where the former cast of "The Girls Next Door" is today.Watch Video »
Justin Bieber makes a surprise appearance at Coachella where Selena Gomez happens to be hanging out with the Jenner sisters on Celebs Gone Social.Watch Video »
Britney Spears, Cindy Crawford and Vanessa Hudgens show their siblings some love on today's Celebs Gone Social hosted by Wonderwall editor Chris Gardner.Watch Video »
Lady Gaga, Katy Perry, and Rita Ora all get an F on this week's Fashion Offenders hosted by Wonderwall's Kirby Kristen.Watch Video »
From Crowd Ignite