Costner Claims Against Baldwin Stand Up In Oil Co. Suit

Law360, New York (February 8, 2012, 12:34 PM EST) -- A Louisiana federal judge ruled Tuesday that a liability release bars actor Stephen Baldwin from suing fellow thespian Kevin Costner for securities fraud after Baldwin was cut from a $52 million oil cleanup venture with BP PLC.

When Baldwin and others sold their interests in Ocean Therapy Solutions LLC, they agreed to free remaining investors from legal liability, U.S. District Judge Martin C. Feldman found, declining to throw out Costner's counterclaims that say Baldwin's suit amounts to a breach of that agreement.

"The scope of the...
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