Harvey Weinstein reaches tentative $44 million deal to settle sexual misconduct lawsuits
If the deal is approved $30 million would go to Weinstein's victims and creditors that did business with his movie studio. The other $14 million would go towards paying the legal fees of former board members of the Weinstein Company that were named in the lawsuit.
After a lengthy stalemate, Harvey Weinstein and the board of the now-bankrupt film studio bearing his name have reached a tentative deal with a number of his alleged sexual misconduct victims, this according to The New York Times.
The settlement agreement of $25 million would not require Weinstein to admit any wrongdoing on his part or make any out-of-pocket payments to any of the alleged accusers, the outlet reported Wednesday.
More than 30 actresses and ex-employees of the disgraced studio head will share the proposed global legal payout, along with additional claimants who could join the class in later months -- which would effectively put a lid on each of the lawsuits brought against Weinstein and his former company.
JUDGE ALLOWS CONSOLIDATION OF CHARGES AGAINST HARVEY WEINSTEIN
Harvey Weinstein turned himself over to police on May 25 and was charged with rape, criminal sex acts, sex abuse and sexual misconduct on two separate women. (AP Photo/Julio Cortez)
Following the nearly two years of legal tug-of-war, the agreement also signifies the dismissal of all claims made against Weinstein and the studio he used to helm.
The settlement has already gotten proper approval from all major parties involved, lawyers familiar with the case told the Times.
Additionally, the settlement would be paid out by insurance companies representing the embattled producer’s former asset, the Weinstein Company -- and seeing as the proceedings occurred in bankruptcy court, the women involved in the settlement had to file their claims along with claims filed by Weinstein’s creditors.
Weinstein’s total payout is said to be $47 million, with a large amount covering legal fees.
Genie Harrison, a lawyer for one of the victims, told the Times that holding out for more favorable terms might have proved detrimental to the overall outcome.
"I don’t think there’s a markedly better deal to be made,” Harrison said. “We have really, truly done the best we can under the circumstances, and it’s important for other victims to know this, come forward and be able to get the best level of compensation we were able to get.”
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Reps for Weinstein declined to comment when reached by Fox News. Attorneys for Weinstein did not immediately respond to Fox News' request for comment.
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