Weinstein Co. Could Be Headed For Bankruptcy As New York AG Files Suit
New York Attorney General Eric Schneiderman filed a lawsuit yesterday afternoon against the Weinstein Company, headquartered in New York City, for alleged civil rights violations in the workplace. The company was in the process of being sold for $500 million, $225 million of which was to be assumed debt, to an investor group headed by Maria Contreras-Sweet. The deal has been halted as investigations proceed, creating tensions between the AG’s office and Contreras-Sweet’s group.
According to the lawsuit, Schneiderman launched the investigation after encountering published reports of Harvey Weinstein’s sexual harassment and discrimination of female employees at the company from 2005 through 2017. The suit claims that Harvey Weinstein had used his senior position to influence or deny career prospects to female employees or business partners based on their willingness to participate in sexual or demeaning behavior.
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