After a two-year legal battle, Harvey Weinstein and the board of his bankrupt studio, the Weinstein Company, have agreed to pay dozens of his accusers $25 million in a tentative settlement agreement.
According to The New York Times, the deal does not require Weinstein to admit any wrongdoing, and he isn’t paying for this settlement out of his own pocket. Instead, insurance companies representing The Weinstein Company will take care of the payout to more than 30 actresses and former Weinstein employees who have accused the former producer of everything from sexual harassment to rape.
Breaking News: Harvey Weinstein and his former studio have a tentative $25 million deal with his accusers. Weinstein, accused of offenses ranging from sexual harassment to rape, won't have to admit wrongdoing or pay his own money. https://t.co/oSnhJbzJlK
— The New York Times (@nytimes) December 11, 2019
If the court approves the deal, it will also take care of potential claimants and end all of the lawsuits that Weinstein’s alleged victims have brought against the former producer and his company.
The settlement will be part of The Weinstein Company’s bankruptcy proceedings, which is settling $47 million in debt that the former studio owes to creditors, including Weinsten’s accusers.
Approximately $12 million of the bankruptcy settlement package will go toward Weinstein’s legal expenses, members of the studio’s board, and Harvey’s brother and former business partner, Bob Weinstein. And, the settlement terms include the alleged victims dropping their claims against Harvey Weinstein and other company executives.
One of the Weinstein’s accusers, actress Katherine Kendall, said she wasn’t thrilled with the terms of the settlement, but she agreed to it anyway.
“I don’t love it, but I don’t know how to go after him,” said Kendall. “I don’t know what I can really do.”
Here’s a math problem:
18 of 80+ victims split $6.2M.
$12M+ goes towards legal fees for Harvey Weinstein, Bob Weinstein & The Weinstein Company board.
Here’s a bigger problem:
— TIME'S UP (@TIMESUPNOW) December 11, 2019
Attorney Genie Harrison – who represents Weinstein’s former assistant Sandeep Rehal – says that if the alleged victims would have tried to hold out for a better deal, they might have ended up with nothing.
“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.”
According to the proposed $25 million settlement, 18 of the alleged victims would divide $6.2 million between them, with no one walking away with more than $500,000. And, $18.5 million would go to participants of the class-action lawsuit, the lawsuit from the New York Attorney General, and future claims.