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Kevin Costner in Court

I Did NOT Defraud

A Baldwin

6/4/2012 9:42 AM PDT BY TMZ STAFF
breaking news


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Kevin Costner
is ready to prove to a jury he's not a fraud ... despite what Stephen Baldwin says -- because the courtroom showdown starts today in New Orleans.

TMZ broke the story ... Baldwin sued Costner back in 2010, claiming the actor duped Baldwin into selling shares in a company that builds machines designed to clean up oil spills.

Baldwin claims Costner and his business partner knew that the company was about to score a bonanza by selling the machines to help clean up the BP disaster, but withheld the info from Baldwin, who then sold his shares back to the company, not knowing about the looming windfall.

Costner claims there was no firm deal to sell the machines to BP when Baldwin dumped his shares ... adding he had no idea that Baldwin was even interested in selling.

Costner's company scored a $52 million deal with BP, and Baldwin now wants $21 mil for his troubles.

Jury selection has just gotten underway. Thanks to WGNO for the video.

46 COMMENTS

No Avatar
1.

Truth    

DAMN, DUDE HAS AGED A BILLION YEARS SINCE WHITNEY'S FUNERAL. OH SH*T, FORGOT... THAT'S JUST COSTNER WITHOUT THE MAKEUP. #TRUTH

835 days ago
2.

DaveT    

Best character Kevin Costner...Lieutenant Dunbar in Dances with Wolves.
Best character Stephen Baldwin....Tuff Hedeman in 8 Seconds.
Now kiss and make up ya dummies.

835 days ago
3.

Delaware D    

Stephen Baldwin is a tool.

835 days ago
4.

Mike    

Suing because Costner didn't abandon ship when Baldwin did? Should I sue the Pawn Shop I sold that broken gold chain to 3 years ago? Cuz, they HAD to know gold was gonna go up, right?
Only the lawyers will make money on this deal...

835 days ago
5.

Ace    

Stephens movies and career are as bad as his investing skills.

835 days ago
6.

Jdawg    

Stephen Baldwin has been a no talent loser all his life.And he will lose this case.

835 days ago
7.

Carl    

Why work for your living like Alec when you can just sue someone because you were too stupid to hang onto your shares?

The rumors that Costner was in discussions with BP were in the news within a month of the spill happening. Even if he hadn't heard these rumors, if I owned shares in a company that could help deal with one of the biggest environmental disasters in US history I'd probably hang onto those shares for a while.

835 days ago
8.

john    

Costner is the biggest tool in the box.

835 days ago
9.

KnuckleDragger    

From what I know of Costner he's a smart businessman as well as an accomplished actor. I doubt he would ever stoop to defrauding someone. Not his style...and the backlash would be very bad business.

835 days ago
10.

lynn    

Costner's court do***ents claim that Baldwin and partner Contogouris invested no money in the company, something they haven't disputed. It seems like any payment they received from Costner's partner, Patrick Smith, was pure profit. Plus, Baldwin was in the middle of a bankruptcy during this.

835 days ago
11.

jackmama311    

tell that mc coy to stuff it or else feel the wrath of the hatfields,

835 days ago
12.

sav    

Baldwins & Costners

835 days ago
13.

Symian    

Ah Stephen Baldwin (the one who is like not having a Baldwin at all) is a dink. He is after money he does not deserve, just like when he put up a website asking people to donate money to him because "wants and needs to be rich". *bleh*

835 days ago
14.

Abe    

I would have much more respect for Kevin Costner if he DID defraud a Baldwin. The Baldwin brothers are all pond s***.

835 days ago
15.

Mary    

The rich get richer and the rich learn how to screw everyone else. Just look at Romney and the rest of the Republicans. The new Republican rule is to get wealthy at the expense of everyone else, They also believe in "no Government intervention" with the exception of everything that the republicans want the Government to intervene in. You can't have it both ways and that is what the republicans want. They want more money for the rich and they will help no one unless it makes them welathier. Yet these are hte very same people who want to say they are religious and care about everyone. Serioulsy, they only care about their own pockets.

835 days ago
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