Kevin Costner, accused of fooling actor Stephen Baldwin and a friend out of millions of dollars for an investment in an oil spill clean up device, has been cleared of all charges.
Baldwin and partner Spyridon Contogouris claimed to be owed $17 million in damages after they sold their shares in oil-separating centrifuges just before BP scooped up 32 of them (a $52 million purchase). Lawyers for Costner say that the pair knew about the order and walked anyway.
Costner, after the verdict, said he felt vindicated:
"My name means more to me than money and that's why we didn't settle."
Baldwin's lawyer, on the other hand, was disappointed:
"We're disappointed. We thought we proved rather convincingly that these two guys, Mr Costner and Mr Smith, defrauded us. The jury saw it a different way but we respect the jury's verdict."
For comments and feedback contact: editorial@rttnews.com
Entertainment News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.