Stephen Baldwin Loses $17 Million Lawsuit vs. Kevin Costner in Court
Kevin Costner was sued by fellow actor Stephen Baldwin for $17 million and the case was decided last week by a jury in Costner's favor.
Baldwin was awarded nothing after seeking a whopping $17 million.
The case was over the BP oil spill and a device that could help clean it up by securing a lucrative BP contract for oil-cleaning machines after the 2010 spill.
Baldwin's claim was that he and a friend (Spyridon Contogouris) missed out thanks to Kevin and his business partner in the oil cleanup, Patrick Smith.
The jury said they didn't buy that and Costner said that leaves his reputation intact and that is pleasing.
''My name means more to me than money and that's why we didn't settle.''
Fox News reveals the case:
Contogouris and Baldwin sold their shares in Ocean Therapy Solutions for $1.4 million and $500,000, respectively.
The company was marketing the oil-separating centrifuges.
Baldwin testified he would have held out for much more if he had known BP had committed to ordering 32 of them. Soon after they sold their shares, the oil giant made an $18 million deposit on a $52 million order.
Attorneys for Costner and Smith said Baldwin and Contogouris knew BP was preparing to order the machines when they walked away from the company rather than gamble for a more lucrative payout if BP signed a binding contract. At the time they sold their shares, BP only had signed a non-binding letter of intent, the defendants' attorneys said.
After a two-week trial, eight jurors deliberated for less than two hours before siding with Costner.
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