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...
To view the full article, register now.




Case Information

Case Title

Contogouris et al v. WestPac Resources, LLC et al

Case Number



Louisiana Eastern

Nature of Suit



Martin L.C. Feldman

Date Filed

December 22, 2010

Law Firms


UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.