Weinstein Company declares bankruptcy, cancels all Non Disclosure Agreements
The Weinstein Company canceled all non-disclosure agreements (NDAs) the embattled film mogul Harvey Weinstein initiated with women who accused him of sexual misconduct.
The film studio, which filed for bankruptcy on Monday night, said in a statement that it is taking “an important step toward justice for any victims who have been silenced by Harvey Weinstein,” citing the non-disclosure agreements the company said Weinstein used as a “secret weapon to silence his accusers.”
More than 70 women have accused Weinstein of varying degrees of sexual misconduct — including harassment, assault and, in some cases, rape. The scandal rocked the film and TV industry last fall.
“No one should be afraid to speak out or coerced to stay quiet. The Company thanks the courageous individuals who have already come forward. Your voices have inspired a movement for change across the country and around the world,” the company’s statement read.
The firm is facing several lawsuits from Weinstein’s accusers and the New York Attorney General Eric Schneiderman, who told USA Today in a statement on Monday night that the release of those NDA agreements “will finally enable voices that have far too long been muzzled to be heard.”
Actress Rose McGowan was one of the women who signed an agreement to keep quiet about her encounter with Weinstein, according to a New York Times report that detailed allegations against Weinstein from multiple women.
Weinstein was forced out of his company last year as the sexual misconduct allegations against him multiplied. The company unsuccessfully courted several potential buyers; the effort ended with Monday night’s bankruptcy filing.
The film studio secured an initial bid for its assets from an affiliate of the Dallas-based private equity firm Lantern Capital Partners.