Disgraced film producer Harvey Weinstein has agreed to a tentative US$25 million settlement with his alleged sexual misconduct victims – and the board of his bankrupt film studio expects insurance companies to pick up the tab.
The agreement comes over two years after the allegations – ranging from sexual harassment to rape – were first reported by the New York Times. Since then, more than 70 actresses and former employees of his studio, the Weinstein Company, have accused the producer of misconduct.
The settlement, which still requires approval from the courts and all affected parties, will be paid out to the more than 30 women who have filed lawsuits against Weinstein. The New York Times reports that the amount will be paid by insurance companies representing Weinstein’s studio.
Lawyers working on the case told the New York Times that the amount was part of an overall US$47 million settlement intended to close out the company’s obligations. Under the terms of the agreement, the alleged victims would drop their claims against Weinstein and other executives and board members would be shielded from future liability.
Weinstein is still scheduled to stand trial next month on charges of sexual assault against two women.