Harvey Weinstein, Fired on Oct. 8, Resigns From Company’s Board

Since the allegations against Mr. Weinstein first became public, most Weinstein Company board members have resigned, leaving only Tarak Ben Ammar, Lance Maerov and Bob Weinstein.

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Harvey Weinstein’s lawyer, Patricia Glaser, right, after leaving the Weinstein Company board meeting in New York on Tuesday.

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Timothy A. Clary/Agence France-Presse — Getty Images

After Harvey Weinstein was fired on Oct. 8 by his company’s board, which cited “new information about misconduct,” he hired a lawyer, Patricia Glaser, to press a wrongful termination case. It was not immediately clear whether Ms. Glaser would continue to pursue the case. Harvey Weinstein, who owns 23 percent of the company, signed an intricate three-year employment contract in 2015. His team believes that the contract offered at least some insulation from the studio’s code of conduct and that any dismissal must involve arbitration.

Ms. Glaser, who is known for representing clients like Keith Olbermann and Conan O’Brien in contract battles, did not respond to a request for comment on Tuesday. She attended at least part of the board meeting in person.

Bob Weinstein, who has insisted that he did not know the extent of his brother’s behavior, has been pushing to keep the studio running by renaming it and recruiting women to occupy all of the vacant board seats, according to two people briefed on the matter, who spoke on the condition of anonymity because the conversations were private.

One problem with that plan: Talent agencies have made it clear that many actors, producers and writers have no interest in working either now or in the future for a studio that has become so tainted. A few stars have also expressed concerns about participating in any movie or television project that might enrich Harvey Weinstein, should he remain a part owner.

On Monday, the studio announced that it had reached a preliminary agreement with the investment firm Colony Capital for a cash infusion to stabilize operations. The amount was undisclosed. Several films are still scheduled for release, and production is underway on a cluster of television shows. The studio said the investment was also intended to “provide comfort to our critical distribution, production and talent partners around the world.”

Colony Capital, which rescued Michael Jackson’s Neverland Ranch from foreclosure in 2008, also entered negotiations to buy all or most of the Weinstein Company’s movie and television holdings. Thomas J. Barrack Jr., the founder of Colony Capital, said in a statement on Monday that he believed the sullied studio “has substantial value and growth potential.” A deal is expected to take three weeks or more to complete.

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2017-10-17 22:31:16 – Source: nytimes.com