Stephen Baldwin sues Kevin Costner in BP Oil drama

Thu Dec 23, 2010 7:59pm EST
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By Eriq Gardner

LOS ANGELES (Hollywood Reporter) - 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 on Wednesday, 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.

Flash forward to April 17, 2010.

Costner and Contogouris had a meal together in Biloxi, Mississippi, where Costner's band, Modern West, was playing a gig.

By that time, says the complaint, Costner's attempts to market his technology had proven unsuccessful, and he sold all his rights and ownership in CINC to a man named Bret Shelton.

Three days after Costner and Contogouris had gotten together, Deepwater Horizon exploded, which would eventually lead to the leak of nearly 5 million gallons of oil into the Gulf of Mexico before the wellhead was capped.

Contogouris knew it was a big opportunity for CINC. He says he attempted to contact Costner, but couldn't, because the actor was filming a movie in Canada.   Continued...