LOS ANGELES -- (KTLA) -- 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.
Attorneys involved in the negotiations told a federal bankruptcy court judge during a hearing in Wilmington, Delaware, Thursday that a breakthrough in a still-unfinished mediation had put a settlement within reach.
The amount of the deal wasn't revealed in court, but a person familiar with the negotiations told The Associated Press it was worth $44 million. The person wasn't authorized to reveal details of the discussions and spoke on condition of anonymity.
“We now have an economic agreement in principal that is supported by the plaintiffs, the (New York attorney general's) office, the defendants and all of the insurers that, if approved, would provide significant compensation to victims, creditors and the estate and allow the parties to avoid years of costly, time consuming and uncertain litigation on all sides,” Adam Harris, a lawyer for studio co-founder Bob Weinstein, told the judge.
He cautioned that there was still “a lot of work here to do.”