Harvey Weinstein resigned from the board of his company on Tuesday, according to a statement from the Weinstein Co.
Based in New York’s Tribeca Film Center, the Weinstein Co. is known for Oscar-winning movies such as the “Hateful Eight,” and “The King’s Speech.” It is currently in discussions about a possible sale of the firm to private equity company, Colony Capital run by Thomas Barrack, a friend of President Donald Trump. The Weinstein Co. announced Monday in a statement that it “has entered a negotiating period with Colony Capital for a potential sale of all or a significant portion of the company’s assets.”
The board fired Weinstein on October 8, citing a violation of the company’s code of ethics. Weinstein’s attorney, Patricia Glaser, has argued that his termination was improper, as the board was aware of several settlements when Weinstein signed his most recent contract in 2015.
The Weinstein Co. has been in turmoil ever since the New York Times reported on October 5 that Harvey Weinstein had a decades-long pattern of sexual harassment, and had settled at least eight harassment claims. Subsequently, dozens of accusers have come forward to allege that Weinstein harassed them, and a handful have accused Weinstein of sexual assault.
Last week, Amazon pulled the plug on a Weinstein Co. project under development from David O. Russell, and took over production of TWC’s “The Romanoffs.”