Actor Sues Actor Over BP Oil Spill

What might seem like a Hollywood movie, is actually a legal battle between two Hollywood legends, over the BP BP oil spill. Stephen Baldwin, and a friend Spyridon Contogouris claim they were tricked into selling shares of the company that marketed the technology of Kevin Cosnter's company CINC ("Costner in Nevada Corporation"). During the crisis, Kevin Costner said he was the potential savior for the crisis -- that CINC had developed a technology that separated oil from water. The last was filed today in a Louisiana District Court. According to the suit, Contogouris claims he was approached in the early 2000s by Costner's representatives to market the technology of CNIC to various customers, and in exchange would receive a commission on sales of units. Baldwin and Contogouris are suing Costner and his partners for securities fraud and misrepresentation, claiming they were duped out of the deal that eventually took place with BP. Contogouris claims $10.64 million in damages, while Baldwin claims $3.8 million in damages. Only in Hollywood folks.
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Posted In: NewsMovers & ShakersLegalEnergyIntegrated Oil & GasKevin CostnerStephen Baldwin
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