Actor Harvey Keitel Sues E*Trade for $1.5 Million

One of the worst parts about doing business is when someone goes back on a promise. Once an agreement is in writing and signed off on, contracts are “binding.” If a person or company negates on the promises outlined in a contract, a court can impose penalties on the guilty party. This is what veteran actor Harvey Keitel is hoping for with his lawsuit against E*Trade.

According to TMZ, Harvey Keitel is suing E*Trade for $1.5 million for reneging on deal. Keitel was approached by the online discount stock brokerage service to be the new spokesman for the brand. Keitel says the negotiations that took place in 2014 were handled quickly, due to the fact that E*Trade was desperately in search of a spokesperson.

Keitel signed off on the deal and E*Trade called it “firm and binding.”  However, a couple days later, E*Trade contacted Keitel to tell him that they were “moving in a different direction” with their ad campaign. They offered him 10 percent of the contract ($150,000) for his wasted time, but didn’t go into further explanation as to why they dropped him.

Keitel is suing for the full amount of the contract.