According to the New York Times, the settlement agreement would not require Weinstein to admit to any misconduct or to personally pay his accusers. Instead, the settlement would be paid by insurance firms representing the Weinstein Company.
Lawyers involved in the case have said that while the legal settlement has received preliminary approval from those involved, it still requires court approval and “a final signoff by all parties,” the Times explained. The actresses and former Weinstein employees that accused him of sexual misconduct would split the payout.
Around $12 million of the settlement package would cover some of the legal costs for Weinstein, his brother and other former members of the company’s board. Citing sources with knowledge of the matter, the Times reported that the overall payout comes to the total of $47 million, a figure that would ultimately wrap up the Weinstein Company’s outstanding financial obligations in the case.
Following the settlement agreement, the victims would drop their civil claims against Weinstein and other executives from his company. However, early next month, Weinstein is scheduled for a criminal trial on charges of sexual assault involving two women, the New York Times reported.
The first accusations against Weinstein emerged in October 2017, following media reports about his alleged assaults. Dozens of women, including Hollywood actresses, claimed he had raped or sexually assaulted them, a mass revelation which prompted a campaign that gave rise to the #MeToo movement in the United States and abroad. Some of the allegations date as far back as 1980.
The accusers have also sued the Weinstein Company, which went bankrupt last year, for being aware of the producer's alleged conduct and helping him to threaten and pay off victims.