Actor Stephen Baldwin has lost his multi-million dollar case against fellow actor Kevin Costner, after Baldwin accused Costner of cheating him and his business partner in a deal to sell oil clean-up devices to British Petroleum after 2010's Gulf of Mexico oil spill.

The case, brought forward by Baldwin, was settled in front of a federal jury in Louisiana who, after two hours of deliberation, rejected Baldwin's claim for more than $17m (£11m) in damages.

The case was brought to light after Baldwin, along with his business partner Spyridon Contogouris, had claimed they were 'forcibly' made to sell their shares in Costner's company Ocean Therapy Solutions, and would not have considered it had they known that BP had put down a deposit on buying equipment worth $52m (£33m). The pair claimed that the $17m they were suing for is what they estimated they would have made from the fulfilled order

Following the case, Baldwin had his attorney issue a statement that outlined his disappointment at the jury's decision, but maintained that he respected their choice.

After the court session, Costner said he was grateful to have been able to clear his name, adding his name is more important than any amount of money.