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The Weinstein Company Has Dissolved Nondisclosure Agreements With Staff Amidst Bankruptcy

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Despite many victims of Harvey Weinstein’s sexual misconduct coming forward, countless others have been silenced by nondisclosure agreements which have been dubbed his ‘secret weapon’ in keeping women from voicing their accusations.

Today however, as The Weinstein Company announced it was filing for voluntary bankruptcy, they also revealed they would end all of the agreements in order to take ‘an important step towards justice for any victims’.

The statement, which has been a long time coming, read:

‘Today, the Company also takes an important step toward justice for any victims who have been silenced by Harvey Weinstein. Since October, it has been reported that Harvey Weinstein used non-disclosure agreements as a secret weapon to silence his accusers.

Effective immediately, those "agreements" end. The Company expressly releases any confidentiality provision to the extent it has prevented individuals who suffered or witnessed any form of sexual misconduct by Harvey Weinstein from telling their stories. No one should be afraid to speak out or coerced to stay quiet. The Company thanks the courageous individuals who have already come forward. Your voices have inspired a movement for change across the country and around the world.’

Along with the many cases of sexual misconduct experiences revealed by Hollywood stars, the bleak reality of working for Weinstein on a daily basis has already been revealed. Therefore, the lifting of these agreements will likely add countless more experiences and accusations to the vile reality we already know. What we can hope, is that it will serve to ensure beyond doubt that he is imprisoned for his crimes.

In the same statement, the company also announced it is selling its assets to Lantern Capital Partners, a Dallas-based equity firm. They said:

‘Under the agreement, Lantern will purchase substantially all of the assets of the Company, subject to certain conditions including approval of the Bankruptcy Court. The Board selected Lantern in part due to Lantern's commitment to maintain the assets and employees as a going concern,’

While the company was expected to sell to a group of investors led by former Obama adminisation official Maria Contreras-Sweet earlier this month. The deal would have seen the company re-invented as a female-run business, however fell through when the investors discovered debt previously undisclosed.

The lawsuit against Harvey Weinstein, The Weinstein Company and his brother Bob Weinstein is ongoing. However, New York General Attorney Eric Schneiderman, who is bringing the suit against them, has dubbed the announcement ‘a watershed moment’. He said in a statement:

‘This is a watershed moment for efforts to address the corrosive effects of sexual misconduct in the workplace. The Weinstein Company's agreement to release victims of and witnesses to sexual misconduct from non-disclosure agreements—which my office has sought throughout this investigation and litigation—will finally enable voices that have for too long been muzzled to be heard.

Click through to see all the celebrities that supported the Me Too movement at the Golden Globes...