Weinstein settles $25 million deal with group of accusers

All of the major parties involved have given their approval of the proposed global wide legal settlement. The accusers range from major Hollywood actresses, of which there are more than 30 to former employees of Weinstein. The various lawsuits have accused Weinstein of sexual harassment and rape. The money would have to be a shared payout with the possibility of more claimants who could join in the coming months.

The settlement still requires court approval and a final sign off by all parties. The money will be doled out by the insurance companies of Weinstein’s former studio. The Weinstein Company has recently filed for bankruptcy furthering complications with the payout. The payout would be part of an overall $47 million settlement that is intended to close out the company’s obligations.

A quarter of the overall settlement package (a little over $12 million) would go to some, but not all of the legal costs for Weinstein. The original settlement was projected at $90 million however this was before the Weinstein Company filed for bankruptcy last year.

Not all of his accusers are included in the settlement including some of the highest-profile women in the entertainment world. They have chosen not to join the proceedings. A separate lawsuit has been filed by actress Ashley Judd, who has said she intends to take Weinstein to trial which would not be part of the deal.

Should the proposed deal go through, the terms remain uncertain. The money would be divvied up into various pots of money. Eighteen of the alleged victims would split $6.2 million, with no individual getting more than $500,000. Another pot of $ 18 million will go to those who were part of a class-action suit and future claimants. There would be a court-appointed monitor who would be responsible for the amount of each payment depending on the severity of harm alleged.

Two additional suits have been filed against Weinstein by Alexandra Canosa and Wedil David. Canosa used to work for Weinstein as a producer and Wedil David as an actress. The two walked away from the tentative deal and their lawyers have said they intend to challenge it.

Mr. Weinstein has denied any and all allegations of nonconsensual sexual activity. He also sought to have insurance companies cover the cost of his criminal defence if he were acquitted. They refused.