A tentative deal has been reached to settle multiple lawsuits brought against the television and film company co-founded by Harvey Weinstein, who has been accused of sexual misconduct by scores of women.
Talks have included representatives of the New York Attorney General's Office and various insurance companies.
Harvey Weinstein also faces criminal charges in NY of rape and performing a forcible sex act.
Bob Weinstein is a co-founder of Weinstein Company and brother to Harvey Weinstein. Weinstein has denied the allegations.
Sources familiar with the matter, all of whom spoke on a condition of anonymity, told The Wall Street Journal that the deal has yet to be finalized but was announced in bankruptcy court in DE after a year of mediation sessions.
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"By doing so, the court can not credit his privacy interest as good cause to keep the case records sealed", the decision said . The judge added, "These are not the actions of a person seeking to maintain his privacy or simply to be let alone".
If finalized, the deal would also settle a civil-rights lawsuit the NY attorney general's office filed a year ago that blames the Weinstein Company's executives and board for not protecting employees from a hostile working environment, sources told The Wall Street Journal.
The company went bankrupt a year ago, as it faced hundreds of millions of dollars in debt and numerous civil suits on behalf of Weinstein's alleged victims. Advisers now in charge of Weinstein Co.in bankruptcy proceedings still need to approve the deal, a company lawyer said Thursday.
Lawyers involved in the negotiations told a federal bankruptcy court judge during a hearing in Wilmington, Delaware, on Thursday that a breakthrough in a still-unfinished mediation had put a settlement within reach. "I'm just like you, because what happened to me behind the scenes happens to all of us in this society, and that can not stand".
Weinstein faces two counts of predatory sexual assault, one count of criminal sexual act in the first degree and one count each of first-degree rape and third-degree rape. The trial won't start until September, thanks to a postponement issued last week, but Weinstein's day of reckoning is coming.
Weinstein, who produced award-winning films like The King's Speech, Silver Linings Playbook and Shakespeare in Love, admitted to wrongdoing and sought counseling for his actions but denied any sex was non-consensual.