Kevin Costner Can't Shake Suit Over $52M BP Deal

Law360, New York (June 7, 2011, 7:33 PM EDT) -- A Louisiana federal judge on Tuesday rejected requests by Kevin Costner and his business partners to dismiss a suit alleging they duped Stephen Baldwin and another investor into selling their interest in an oil cleanup company while completing a $52 million purchase order with BP PLC.

Judge Martin Feldman ruled that Baldwin and co-plaintiff Spyridon Contogouris adequately pled securities law violations, fraud and other claims, allowing their amended complaint to float past the defendants’ motions to dismiss largely unscathed.

Baldwin and Contogouris were part owners —...
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