Costner’s New Waterworld and Securities Lawon June 8th, 2011 at 8:46 pm
While filming one of the biggest movie busts of all time, Waterworld, Kevin Costner reportedly was working on a water treatment device that has become a success. Costner has testified before the House Energy and Environment Subcommittee on the technology and made a major sale to BP. Some of Costner’s co-investors, including actor Stephen Baldwin, are suing Costner for luring them into selling their shares before BP’s purchase. A federal judge has denied Costner’s motion to dismiss, although it does not appear from the complaint that Costner made any representations in connection with plaintiffs’ sales.