The Weinstein Company’s Board of Directors has weighed in with a statement regarding the bombshell civil rights lawsuit filed today by New York Attorney General Eric T. Schneiderman. The lawsuit was filed just as new ownership lead by Maria Contreras-Sweet and Ron Burkle were finalizing plans to take over the company. It is unclear whether the suit will crater the deal, or merely delay it. But several publications –the Wall Street Journal the latest — are reporting the deal has collapsed as a result of the lawsuit. Deadline continues to hear the deal is not dead.
“We are disappointed that the New York Attorney General felt it necessary to file today’s complaint. Many of the allegations relating to the Board are inaccurate and the Board looks forward to bringing the facts to light as part of its ongoing commitment to resolve this difficult situation in the most appropriate way. With respect to the Company’s ongoing sale process, the Board sought a transaction to preserve jobs and create a victim fund. Any suggestion that the Company or its Board somehow impeded or discouraged the buyer’s access to the New York Attorney General is simply untrue. Indeed, the Company and its Board actively encouraged the buyer to communicate with the Attorney General. The Company looks forward to continuing our discussions with the Attorney General in order to reach our common goal of bringing this situation to an appropriate resolution.”