Hagens Berman Sobol Shapiro LLP is investigating breach of fiduciary duty claims against the directors and officers of The Weinstein Company Holdings LLC (“TWC”) involving the potential failure to act and cover-up of sexual harassment and assault allegations directed at Harvey Weinstein.
If you are an investor in The Weinstein Company Holdings LLC or its affiliated companies (“TWC”) and suspect that your investment and TWC has been damaged by the failure of the officers and directors to act in the best interests of TWC, contact Hagens Berman Sobol Shapiro LLP. For more information visit: https://www.hbsslaw.com/cases/TWC.
Our initial investigation indicates that TWC’s officers and board of directors may have been aware of the allegations against Harvey Weinstein for many years, but have failed to act out of loyalty to Mr. Weinstein as opposed to TWC. One media source, TMZ, reports that the directors approved a 2015 contract that that contemplated future sexual harassment or assault allegations against Harvey Weinstein, and his opportunity to cure allegations of such conduct by paying a modest fine to the company.
News sources also report that TWC was able to hide this alleged conduct by threatening the strict enforcement of contracts prohibiting employees and victims from speaking.
“This story churns our stomachs. The only way to stop rampant sexual harassment and assault in the corporate environment, and in the entertainment industry in particular, is for shareholders to hold the officers and directors personally liability for the sustained or systematic failure to exercise oversight against this conduct,” said Hagens Bermanpartner Reed Kathrein. “Red flags were allegedly waived in the faces of the Weinstein Company’s Board for many years, and they not only ignored them, but reportedly knew about the payment of hush money. This is not legitimate business judgment to which the courts must defer. Harvey Weinstein’s alleged conduct has irreparably hurt the company and its shareholders.”
Whistleblowers: Persons with non-public information regarding what the Weinstein Companies officers and directors knew should may consider contacting TWC@hbsslaw.com.
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