12 October 2017 6:42 AM, PDT | The Wrap | See recent The Wrap news »

The Weinstein Company board has set off a war with fired co-founder Harvey Weinstein by deciding to sue him for damages instead of paying out his stake in the company, The Wrap has learned. The disgraced mogul, fired by the board on Sunday, was informed on Wednesday that his 23 percent stake in The Weinstein Company will not be paid out, according to an individual with knowledge of the matter. Instead, the company directors decided that since Weinstein’s actions have significantly damaged the company, they will seek legal remedies to recoup the losses sustained. A representative for Weinstein did not immediately respond. »


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