Kevin Costner is suing the the producers of 1991 film Robin Hood: Prince of Thieves, in which he starred as Robin Hood, for allegedly cutting him out of his share of the film's profits since 2010.
In court papers filed in the US on Tuesday, first seen by Deadline.com, Costner alleges that Morgan Creek Productions have "concealed" payments over the last two years.
The global hit grossed over $390 million worldwide and tens of millions more from television, home video and other sources.
Kevin Costner as Robin Hood
Morgan Creek CEO James Robinson told The Hollywood Reporter: "Why is it after 22 years Mr. Costner finds fault with our accounting procedures or for that matter our way of doing business?"
He added: "We have paid him over $40 million. I think we've been very nice to him. I wonder how much money he has made from other films where he is participant. We've been very straight with him."
However, in the legal papers filed, Costner wrote: "Every actor hopes to star in a great movie that makes substantial profits. 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."
Costner at the Critics' Choice Awards
Costner has just been Emmy-nominated for Best Actor in a Miniseries for his role in Hatfields and McCoys. On hearing the news, he told the LA Times: "I have to be honest, this is a thrill, this is really great."
The Oscar winner is currently travelling with his band, as they tour in support of their album, Famous for Killing Each Other.
Costner portraying Devil Anse Hatfield from the History network's miniseries Hatfields & McCoys.
The actor, who is set to play Superman's adoptive father Jonathan Kent in forthcoming film Man Of Steel, has also recently been in a dispute with Alec Baldwin's brother Stephen.
Stephen Baldwin claimed Costner and a business partner duped him and a friend out of their shares of an $18 million deal concerning investments in a device used to try to clean up BP's 2010 oil spill in the Gulf of Mexico. However, the jury cleared Costner of the allegations.