As Weinstein Resigns, Allegations Emerge Against His Brother
Harvey Weinstein resigns from Weinstein Company board
By Evann Gastaldo,  Newser Staff
Posted Oct 17, 2017 4:32 PM CDT
In this Jan. 6, 2016, file photo, producer Harvey Weinstein participates in a panel at the A&E 2016 Winter TCA in Pasadena, Calif.   (Photo by Richard Shotwell/Invision/AP, File)

(Newser) – Harvey Weinstein is all the way out at the company he founded. He resigned from the Weinstein Company's board of directors Tuesday, more than a week after he was fired from his role as co-chairman of the company following a reportedly explosive board meeting. Per TMZ, Weinstein's contract specified that if he was fired, the board must ratify the firing after a five-day "cooling off period," which it did today; the contract states that if the firing is ratified, Weinstein must resign from the board, and sources say he agreed to do so. It remains to be seen whether he'll take legal action for his termination; his lawyer has previously said she does not believe the company had the right to fire Weinstein and the plan is to file a lawsuit if the company refuses to go into arbitration. It's also unclear what will become of the roughly 20% stake Weinstein owns in the company, the AP reports.

Five other board members have resigned in the wake of the allegations of sexual assault and harassment against Weinstein, the Los Angeles Times reports. Business partners have also been cutting ties with the company, and on Monday, a board member said it was exploring a total or partial sale to a private equity firm. TMZ says that firm plans to change the name and institute new partners, and adds that Bob Weinstein would no longer be in charge. Speaking of Bob Weinstein, he's now been hit with his own sexual harassment allegations. Amanda Segel, an executive producer on Weinstein Co. TV series The Mist, tells Variety Bob Weinstein repeatedly attempted to romance her for three months around the summer of 2016, until her lawyer told Weinstein Co. execs she would leave the show unless he stopped contacting her personally. Bob Weinstein's rep says Weinstein had dinner with Segel once and never behaved inappropriately, but Segel says during that dinner he asked her intimate questions and tried to get her to come back to his hotel room. She says from that point on he continued asking her out despite her repeatedly declining.

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