Harvey Weinstein has been fired by the Weinstein Company, a statement from the board late Sunday said, after sexual harassment claims came to light.
Weinstein took a voluntary leave of absence from the company he co-founded with his brother Bob Weinstein on Friday after a New York Times expose uncovered sexual misconduct allegations that spread over nearly three decades. Actors Ashley Judd and Rose McGowan are among the accusers.
"In light of new information about misconduct by Harvey Weinstein that has emerged in the past few days, the directors of the Weinstein Company - Robert Weinstein, Lance Maerov, Richard Koenigsberg and Tarak Ben Ammar - have determined, and have informed Harvey Weinstein, that his employment with the Weinstein Company is terminated, effective immediately," the board said Sunday.
It was alleged in the NYT article that Weinstein reached eight settlements with women he had sexually harassed. Accusers said Weinstein would invite women to his hotel room for meetings and then greet them naked or ask them to massage him or watch him shower.
"I appreciate the way I've behaved with colleagues in the past has caused a lot of pain, and I sincerely apologize for it," Weinstein said after the article was published. "though I'm trying to do better, I know I have a long way to go."
Weinstein on Thursday said he would sue to newspaper for $50 million. Weinstein hired Charles J. Harder, who represented Hulk Hogan in his suit against Gawker, to go after the paper, the New York Post reported.
The company was launched by the brothers in 2005 after founding Miramax films in 1979. Last year the company released 10 films and brought in total box office of just $59.6 million in the U.S. and Canada. In 2013, it released 18 movies and generated $463 million of ticket sales.
The Wall Street Journal reported that three directors resigned from the board on Friday and another resigned on Saturday because they felt blindsided by the allegations.
More of What's Trending on TheStreet: