In a statement, AG Schneiderman said, “As alleged in our complaint, The Weinstein Company repeatedly broke New York law by failing to protect its employees from pervasive sexual harassment, intimidation, and discrimination.”
New York AG’s lawsuit delays sale of The Weinstein Company
Since October, The Weinstein Company has been trying to avoid bankruptcy following reports of Harvey Weinstein’s sexual misconduct for decades. The company is close to reaching a sale agreement to an investor group.
People familiar with the matter told the New York Times that The Weinstein Company agreed to sell itself for $275 million plus the assumption of $225 million in debt.
It appears that New York AG’s delayed the deal and spooked the buyers of the company. The company was expecting to finalize the agreement on Sunday.
According to AG Schneiderman, “Any sale of The Weinstein Company must ensure that victims will be compensated, employees will be protected going forward, and that neither perpetrators nor enablers will be unjustly enriched.”
