The long-running business episode around Kevin Costner's involvement with oil-separation technology escalated into public legal drama in 2010. Costner had acquired a company in 1995 that was developing oil-water separation machines based on a government-held patent; those devices attracted attention following the Deepwater Horizon disaster. In late May 2010 BP took six of the machines for testing, and on June 16, 2010 the oil giant entered into a lease for 32 of the devices from Ocean Therapy Solutions, a company in which Costner held an interest. Shortly thereafter, two former investors — Spyron Contoguris and actor Stephen Baldwin — filed suit in Louisiana federal court claiming $10.64 million in securities fraud and misrepresentation. Their complaint alleged, among other things, that Costner had kept a meeting with BP secret from them and that this clandestine meeting precipitated an $18 million down payment. The litigation turned a technically focused innovation story into a contentious financial dispute that drew media attention to Costner's off-screen business dealings, while highlighting the high stakes and murky investor relations that can attend celebrity-backed technology ventures.
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AI concept artworkArchive Record · 2010s
Ocean Therapy Solutions, BP Contracts and a Securities Lawsuit Alleging a Secret Meeting
Kevin Costner / Ocean Therapy Solutions / 2010s
The long-running business episode around Kevin Costner's involvement with oil-separation technology escalated into public legal drama in 2010. Costner had acquired a company in 1995 that was developing oil-water separation machines based on a government-held patent; those devices attracted attention following the Deepwater Horizon disaster. In late May 2010 BP took six of the machines for testing, and on June 16, 2010 the oil giant entered into a lease for 32 of the devices from Ocean Therapy Solutions, a company in which Costner held an interest. Shortly thereafter, two former investors — Spyron Contoguris and actor Stephen Baldwin — filed suit in Louisiana federal court claiming $10.64 million in securities fraud and misrepresentation. Their complaint alleged, among other things, that Costner had kept a meeting with BP secret from them and that this clandestine meeting precipitated an $18 million down payment. The litigation turned a technically focused innovation story into a contentious financial dispute that drew media attention to Costner's off-screen business dealings, while highlighting the high stakes and murky investor relations that can attend celebrity-backed technology ventures.
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