Kevin Costner and his production company, Tig Productions, is suing his former business executive, Jim Wilson, over allegations of fraud, and seeking $15 million in damages.
In court documents, Costner says he met Wilson back in 1983 during a casting call. Under his direction, Wilson gave Costner his first lead role. In 1991, Costner hired Wilson as Executive VP of his production company, Tig Productions. Costner also brought Wilson on as a producer for the film “Dances With Wolves”.
According to court documents obtained by The Blast, it is alleged that Wilson made over $35 million from his business relationship with Kevin Costner, and Costner’s lucrative business opportunities.
Costner made a deal with Warner Brothers to be exclusive for all films either he or his production company produced. As President of of Tig Productions, it is alleged that Jim Wilson was not a key element to the WB Agreement, and rather than taking advantage of the Agreement and full access to Costner, Wilson was focused on his own career as a director. The WB Agreement was an opportunity for Costner to build a valuable feature film library, potentially worth hundreds of millions of dollars.
Costner supported the formation of Good Ones Productions, Inc, and it is alleged that for the past 25 years, Wilson “failed to follow corporate formalities, never provided any financing to GOP, never appointed officers, never materially developed GOP’s projects and was not involved in GOP’s major decisions”.
Wilson held bare title to GOP’s shares for the benefit of Costner, and Wilson was a fiduciary of both Costner and Tig Productions, and was expected to execute any and all documents necessary to further the projects held by GOP.
In July of 2020, Costner’s representatives asked Wilson to sign an agreement, transferring bare legal ownership of GOP stock to Costner. Costner alleges that Wilson violated his agreement with him and His production company because Wilson is holding GOP and Tig Productions projects hostage for $250,000. It was decided that Tig Productions hold title to all developmental projects, since Wilson was no longer an officer of Tig, and it made no sense for Wilson to hold bare legal title to GOP stock. Costner alleges Wilson did not sign the agreement to transfer the stock back into Costner’s name. Costner claims he has been damaged in the amount of $15 million as a “direct, actual and foreseeable result of Wilson’s conversion”.
Kevin Costner contends he is the lawful owner of GOP and all of its property and assets, including corporate stock. He has accused Jim Wilson of refusing to sign the agreement to transfer GOP’s stock, and demanding $500,000 to sign the agreement.
Costner is suing for $15 million in damages.
Costner, who is the star of the hit show ‘Yellowstone’, has recently worried fans about leaving the show. In an interview with Good Day New York, Costner was asked “Are you coming back to ‘Yellowstone’?” Costner said, “I can’t say. There’s an ending that you’re gonna see, hopefully it’s a powerful one for you. I try to make things and be a part of things that have a dramatic arc to them.”