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
- 'Lilyhammer' Star Steven Van Zandt on His Place in TV History, Mandela and (PossibMSNEntertainment 12/12/2013 3:18:15 PM
- TheWrap Screening Series: 'Porcelain Horse' Writer-Director on the 'ExpecMSNEntertainment 12/12/2013 2:58:39 PM
- Award-Winning Producers to Finance Documentary About Forgotten Film Legend (Exclusive)MSNEntertainment 12/12/2013 2:58:13 PM
- Obama Nominates Sony's Tom Rothman to National Council on the ArtsMSNEntertainment 12/12/2013 2:47:27 PM
- 'American Hustle' and 'Saving Mr. Banks' Hit Box Office in Heat MSNEntertainment 12/12/2013 1:44:28 PM
- 'Lilyhammer' Star Steven Van Zandt on His Place in TV History, Mandela and (Possib
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."
"Shah's of Sunset" star Asa Soltan talks about this season's drama, possible wedding bells with her boyfriend and more.Watch Video »
From Jenny and Donnie to Amanda and Justin, see more celebs who found new love in 2013.Watch Video »
Kourtney Kardashian hits up the happiest place on Earth on today’s Celebs Gone Social.Watch Video »
From Olivia Wilde to Mario Lopez, see which stars have the hottest beach bods of 2013.Watch Video »
Victoria’s Secret Angel Candice Swanepoel talks to WW about wearing the $10 million bra, eating steak, Taylor Swift and if she plans to marry her boyfriend.Watch Video »
Check out the many times Taylor Swift has pulled out her surprise face at award shows.Watch Video »
Like us on Facebook?
UP NEXTBabies of 2013
From Videos of Wonderwall
From Crowd Ignite