Stephen Baldwin filed a federal lawsuit in New Orleans on Wednesday against Kevin Costner over their investments in a device that BP used during the cleanup of the massive Gulf of Mexico oil spill, according to the Associated Press.
B$aldwin and his friend Spyridon Contogouris said in the suit they owned 10% of the company Ocean Therapy Solutions, which marketed and manufactured a centrifugal device to separate oil from water. Costner spent years developing the device.
The catch? Costner and his business partner Patrick Smith made a $52-million deal on June 8 in which BP would purchase their oil-separating centrifuges to help clean up the gulf coast, complete with an $18-million deposit, according to Baldwin's suit.
That deal was done just days before Costner and Smith led Baldwin and Contogouris to believe there was no interest in the technology and that they should sell their shares of the company, which they did for $1.4 million and $500,000, respectively, the AP reports.
According to their suit, which seeks unspecified damages, instead of getting a share of BP's deposit, they claim Costner and Smith "schemed" to use the deposit to be bought out of the company.
Costner's publicist declined to comment on the suit's allegations.
Baldwin and his boy are stupid. If they took the word of Kevin Costner instead of contacting BP themselves to find out if there was interest they deserved what happened to them. If they had been following the news they would have known BP had a serious interest in the device especially after demonstrations showing its capabilities.
Baldwin and his boy are stupid. If they took the word of Kevin Costner instead of contacting BP themselves to find out if there was interest they deserved what happened to them. If they had been following the news they would have known BP had a serious interest in the device especially after demonstrations showing its capabilities.
True, but I would bet Costner made sure there was no paper trail and it comes down to a he said/ he said type of thing that gets settled out of court with Costner and company still making off with bank. There seems to be only one smart Baldwin.
Stephen Baldwin Sues Kevin Costner
