Disgraced movie mogul Harvey Weinstein has reached a $44 million deal with his sexual misconduct accusers, former studio’s board members, and the New York attorney general’s office.
Although Weinstein denies sexually harassing or abusing over 75 women, sources say the agreement has not been finalized, but will resolve a number of civil lawsuits against him, the Weinstein Co., and his former business associates, Complex reports.
Weinstein will also stand trial in New York next month on criminal charges brought by two women, including rape.
Adam Harris, a lawyer for the studio told a judge that “an economic agreement in principle” had been reached, the Associated Press reports.
He added: “I personally am very optimistic.”
“For the first time, as of yesterday…we now have an economic agreement in principle that is supported by the plaintiffs, the [New York attorney general’s] office, the defendants and all of the insurers,” Harris said.
The WSJ reports that out of the $44 million, $30 million will go to the plaintiffs, which include Weinstein’s alleged sexual misconduct victims, former Weinstein Co. employees, and creditors that issued loans to the studio before its 2018 bankruptcy. The remaining $14 million will cover the legal fees of Weinstein’s associates, who were listed as co-defendants in the lawsuits. Sources say the payout will come from insurance policies.
The 67-year-old is one of Hollywood’s most prolific producers, having worked on films that have generated over 81 Oscars since 1999. He and his brother Bob founded the Miramax entertainment in the ’70s, but in 2005, they split from the company and founded Weinstein Co.
The outcry led to the #MeToo movement, and as the accusations against him intensified, the Weinstein Co canned Harvey and filed for bankruptcy.
Weinstein is due to go on trial in New York on June 3 on five charges of sexually assaulting two women. If found guilty, he could spend the rest of his life in prison.