Goldman Sachs is reportedly exploring options for its stake in the Weinstein Company

Harvey WeinsteinHarvey Weinstein Getty/Ian Gavan

Goldman Sachs is “exploring options” for its small stake in The Weinstein Company after more than two dozen women came forward with accusations of sexual harassment against Hollywood mogul Harvey Weinstein, according to Shannon Bond at The Financial Times.

Andrew Williams, a spokesman for the bank, told the FT the firm is exploring options for its stake, which is valued at less than $1 million.

Goldman Sachs helped finance the creation of The Weinstein Company back in 2005.

Even before reports about Weinstein’s alleged misconduct came to light, The Los Angeles Times says that the company was “already facing financial strains because of a lack of commercial hits and increasing competition in the indie cinema space.”

Last week, a bombshell New York Times report exposed decades of sexual harassment and abuse allegations against Weinstein, including from actress Ashley Judd. The Times reported that Weinstein has made legal settlements with at least eight women.

Since then, over two dozen women have come forward, including stars Gwyneth Paltrow, Angelina Jolie, and Cara Delevingne.

Most of these alleged encounters follow a similar pattern of “business meetings” turning into a proposed massage and hotel room sexual harassment or assault. The accusations begin as early as the 1980s and include actresses, assistants, and other employees of Weinstein’s companies. 

The Huffing Post reported on Friday that Lauren Sivan, who was previously a news anchor on local cable channel Long Island 12, alleges that a decade ago Weinstein trapped her in the hallway of a restaurant that was closed to the public and masturbated in front of her until he ejaculated.

Weinstein was fired from The Weinstein Company by its board last the weekend. The statement announcing the firing said the decision was made “in light of new information about misconduct by Harvey Weinstein that has emerged in the past few days.”

Weinstein and his brother, Bob, who is now the head of the company, together own 42% of the company. 

Check out the full report from The Financial Times here.

Get the latest Goldman Sachs stock price here.

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