According to a lawsuit obtained by TMZ, Falk and his wife hired Handy Andy Services to spruce up their beach pad. Falk claims, among other things, Handy Andy didn't pack the soil properly, didn't apply the proper paint, didn't re-install fire sprinklers, and didn't waterproof the house.
Peter and his wife are suing for unspecified damages.
A rep for the construction company tells TMZ, "This is slanderous to our company's name ... they still owe us $120,000. Falk's wife fired us after we refused to do electrical work outside in the rain."