Harvey Weinstein has resigned from The Weinstein Company‘s Board of Directors.
The indie movie mogul’s decision comes amid brother Bob Weinstein and other board members’ vote to ratify his October 8 firing as the film studio’s co-chairman. According to reports, the company is still in talks on how to best resolve Harvey’s ousting from TWC as he still owns 22-23% of the business.
While the disgraced producer stepped down from the board, it’s unclear if he’ll pursue a lawsuit against his former company. As we previously reported, Weinstein’s legal team has defended that the industry titan’s firing was illegal as no complaints of sexual harassment were brought against him after his 2015 contract negotiations.
Nonetheless, TWC has justified the firing by stating that the scandalized Hollywood heavyweight broke the company’s code of conduct. In case you missed it, Harvey has been accused of decades worth of sexual misconduct. His accusers include A-listers such as Gwyneth Paltrow, Angelina Jolie, Rose McGowan, Ashley Judd, etc.
To make matters worse, it’s said that things are tense between the remaining board members and TWC’s defacto leader Bob. Although Harvey’s younger brother has firmly stated that the company isn’t for sale, the board is exploring a sale to Colony Capital.
Not to mention, several high profile projects have been canceled due to Harvey’s scandal. Let us just say this — it sucks to be The Weinstein Company right now!
[Image via WENN.]