"Robin Hood: Prince of Thieves" star Kevin Costner claims he was bilked out of backend earnings by shady accounting practices
Kevin Costner is accusing "Robin Hood: Prince of Thieves" producers Morgan Creek Productions of stealing from the star and giving to itself.
Costner filed suit against Morgan Creek in Los Angeles Superior Court on Tuesday, claiming that he has been deprived of money from the 1991 film "Robin Hood: Prince of Thieves" due to shady practices on Morgan Creek's part.
"Every actor hopes to star n a great movie that makes substantial profits," the lawsuit reads. "But if you're hoping to earn profits based on the success of your film and you want to be paid on a timely basis, then one company you certainly do not want to do business with is Defendant Morgan Creek Productions."
Also read: Kevin Costner Beats Stephen Baldwin in BP Oil Spill Suit
According to the suit, Costner was promised 12.5 percent of the adjusted gross receipts of the picture in excess of $60 million, and 15 percent in excess of $100 million. plus a substantial chunk of home video earnings.
However, the suit says, Morgan Creek was consistently late with rendering statements and eventually stopped providing them — and the statements that they did provide "intentionally concealed information and employed inaccurate and improper accounting practices designed to deprive Mr. Costner of his backend participation."
Among Morgan Creek's alleged infractions: under-reporting home-video receipts by reporting 10 percent of the gross receipts from distributor Warner Bros. rather than basing the figures on Morgan Creek's own take; and deducting more than $2 million from gross receipts checking and collection costs, "despite that Defendants provided no evidence that those costs were actually incurred."
Also read: Kevin Costner's New Lawsuit: Sued for Blocking Neighbor's View With Trees
According to the suit, "Robin Hood: Prince of Thieves" has grossed more than $390 million in worldwide theatrical revenues, and tens of millions more from television and home video.
Morgan Creek had no comment for TheWrap..
Alleging breach of contract; breach of implied covenant of good faith and fair dealing; fraud and unjust enrichment, the suit is seeking general damages, cost of the suit, interest and other relief that the court may deem just and appropriate.
Pamela Chelin contributed to this report.