The Weinstein Co. Has Filed for Bankruptcy Protection

Posted on

It was not long ago that The Weinstein Co. co-founder, Harvey Weinstein, was making dozens of headlines for being accused of sexual misconduct in the Hollywood industry.

Women standing up to Weinstein’s alleged sexual misconduct throughout the years sent shock waves through the arena and also formed a movement that spread wide to other industries where victims began to out the predators that harassed them.

In a new twist to the events, The Weinstein Co. has filed for bankruptcy protection and has a buyout offer in hand from a private equity firm.

The company also revealed that it would be releasing any victims or witnesses of the alleged misconduct that Weinstein took part in, from any non-disclose agreements that have not allowed them to speak up.

“Since October, it has been reported that Harvey Weinstein used non-disclosure agreements as a secret weapon to silence his accusers. Effective immediately, those ‘agreements’ end,” The Weinstein Co. stated. “No one should be afraid to speak out or coerced to stay quiet.”

As many as 80 women have accused Harvey Weinstein of misconduct. He was let go from the company as its CEO last October. Despite the multitude of allegations, Weinstein has denied that there has been any non-consensual sex.

“While we had hoped to reach a sale out of cour, the Board is pleased to have a plan for maximizing the value of its assets, preserving as many jobs as possible and pursuing justice for any victims,” remarked Bob Weinstein, the brother of Harvey. Bob remains the chairman of the company’s board of directors.