Stephen Baldwin Sues Kevin Costner for Tricking Him into a BP Oil Spill Investment

In Business Law, Film Law by FASHIONENTLAW™

“In the midst of the oil spill in the Gulf of Mexico by BP drilling rig, Deepwater Horizon, a number of news outlets got a bunch of yuks with news that Kevin Costner was the potential savior for the crisis — that his company, CINC (“Costner in Nevada Corporation”), had developed a technology that separated oil from water.

In a new lawsuit filed in Louisiana District Court, actor Stephen Baldwin and a friend named Spyridon Contogouris claim they were tricked into selling shares of the company that marketed CINC’s technology.

According to the complaint, Contogouris was approached in the early 2000s by Costner’s representatives to market the actor’s technology to various customers. He says he entered into an agreement in which he would receive a commission on sales of units. . .” THR.Esq has the full story.

Advertisement