Harvey Weinstein has reached a tentative compensation deal worth $ 44m with women who have accused him of sexual misconduct, Sky News understands.
His former film studio’s board members and executives are also part of the deal, after they were accused of failing to protect employees from a hostile work environment and Weinstein’s conduct.
Adam Harris, a lawyer for The Weinstein Company co-founder Bob Weinstein, told a bankruptcy court judge on Thursday that “an economic agreement in principal” had been reached.
More than 15 misconduct lawsuits have been filed against Harvey Weinstein or the company.
The scandal forced the studio into bankruptcy.
If the $ 44m (£34.7) deal is finalised it would resolve a civil rights lawsuit filed by the New York attorney general’s office, but would not cover criminal charges.
Weinstein has denied sexually assaulting two women and is due to go on trial in New York in September.
Sky’s US correspondent Hannah Thomas-Peter said: “Harvey Weinstein has been a man under considerable legal pressure ever since he was accused by dozens of women of sexual harassment and assault.
“He has been targeted in the courts by many of those women, who have sued him in a civil suit rather than pursuing him in criminal cases.”
She added: “There is something to say though about this $ 44m total.
“I have spoken to a number of people close to these settlement negotiations, and they are at pains to say it sounds like a big number, but actually once creditors are paid, once legal fees are paid, once all of the many alleged victims are paid, it actually potentially won’t stretch very far.”
Weinstein has denied all allegations of non-consensual sex.
The former Hollywood producer, who won plaudits and awards for movies including Pulp Fiction and The King’s Speech, fell from grace after more than 70 women, mostly young actresses and others in the movie business, accused him of sexual misconduct dating back decades.
As the accusations against Weinstein mounted, his company Weinstein Co fired him and filed for bankruptcy,
He was also expelled from the Academy of Motion Picture Arts and Sciences.
His case helped launch the #MeToo movement, which has led to dozens of powerful men in entertainment, politics and other fields being accused of sexual misconduct.
Harvey Weinstein’s spokesperson has not responded to requests for comment.