Harvey Weinstein has reportedly resigned from the Board of Directors of The Weinstein Company following an ultimatum from the board, TMZ reported Tuesday.
According to sources, the 65-year-old film producer was told he had to resign from his role or he would be fired after numerous sexual harassment and sexual assault accusations against him came to light. (RELATED: Ed Asner Asks Chris Jansing For Kiss During Weinstein Interview)
However, the decision reportedly does not affect his claim that he was illegally fired from the company he created, TWC.
The now fallen film producer’s lawyer, Patty Glaser, reportedly said that she still believes her client could not have been fired based on his contract and has threatened them with a lawsuit if they do not submit to arbitration.
Weinstein was fired from the company last week amid the growing list of sexual misconduct allegations against him. His contract reportedly stated that he could get sued for sexual harassment or any other “misconduct” and not be fired, but he would have to pay the settlement or judgment and a hefty fine.
A spokesperson for the film producer has denied all accusations of non-consensual sexual encounters.
Colony Capital is reportedly interested in TWC and is in the process of negotiating to acquire the company. They plan to change the name and Weinstein’s brother, Bob Weinstein, will no longer run the business.