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Harvey Weinstein arrives at criminal court, New York City, Dec. 11. Photo: David Dee Delgado/Getty Images

Dozens of Harvey Weinstein's accusers have reached a tentative $25 million payout deal with the movie mogul and his studio board as part of a larger $47 million settlement, the New York Times reports.

The big picture: The overall settlement — meant to close out the Weinstein Company's obligations as it works through bankruptcy proceedings — would reportedly bring to an end nearly all sexual harassment and rape lawsuits against Weinstein, per the NYT.

  • The tentative deal reportedly does not require Weinstein "to admit wrongdoing or pay anything to his accusers himself, according to lawyers involved in the negotiations," per the Times.
  • The settlement would be paid by insurance companies representing the Weinstein Company, the Times reports.
  • More than $12 million of the proposed deal would cover legal costs for Weinstein and his brother, as well as other ex-members of the Weinstein Company's board, lawyers told the Times.

Where it stands: Weinstein's trial is scheduled for Jan. 6, 2020, according to New York City court documents. He was charged in 2018 with first- and third-degree rape in one case, per the NYT, and first-degree criminal sex act in another 2013 incident.

  • Two of Weinstein's accusers reportedly wanted out of the overall settlement in July, per the Wall Street Journal, which described the deal as worth $44 million at the time.

What they're saying: Elizabeth Fegan, lead attorney in the class action lawsuit against Weinstein, emphasized on Wednesday that the proposed settlement still needs court approval. "No matter what amount of money the survivors ultimately receive, the civil settlement will do little to reverse the damage Weinstein caused to so many," she said.

  • "It is shameful that $12 million of the settlement is going to the lawyers for the directors who we alleged enabled Harvey Weinstein and it is even more outrageous that the proposed settlement will seek to bind non participating members by providing a release to the insurance companies and the directors of the Weinstein Company itself," attorneys Douglas H. Wigdor and Kevin Mintzer, who represent two of Weinstein's accusers, said on Wednesday.
  • Wigdor told Axios in an additional statement he is "not confirming the NYT story and facts contained therein."

Go deeper: Global #MeToo movement has resulted in 6 convictions, 5 charges of influential figures

Go deeper

Felix Salmon, author of Capital
10 mins ago - Economy & Business

The places regulation does not reach

Illustration: Aïda Amer/Axios

Financial regulation is not exactly simple anywhere in the world. But one country stands out for the sheer amount of complexity and confusion in its regulatory regime — the U.S.

Why it matters: Important companies fall through the cracks, largely unregulated, while others contend with a vast array of regulatory bodies, none of which are remotely predictable.

Trump nominee Christopher Waller confirmed to Fed board

Christopher Waller at a Senate Banking hearing earlier this year. (Photo: Sarah Silbiger/Getty Images)

The Senate voted 48-47 on Thursday to confirm Trump nominee Christopher Waller to the Federal Reserve Board of Governors — filling one of the two vacant slots on the influential economic body.

Why it matters: It's one of the last marks left on the Fed board by Trump, who has nominated five of its six members.

55 mins ago - Economy & Business

Boeing gets huge 737 Max order from Ryanair, boosting hope for quick rebound

Ryanair low cost airline Boeing 737-800 aircraft as seen over the runway. Photo by Nik Oiko/SOPA Images/LightRocket via Getty Images

Dublin-based Ryanair said it would add 75 more planes to an existing order for Boeing's 737 Max airplanes, a giant vote of confidence as Boeing seeks to revive sales of its best-selling plane after a 20-month safety ban following two fatal crashes.

The big picture: Ryanair's big order, on the heels of breakthrough vaccine news, is also a promising sign that the devastated airline industry might recover from the global pandemic sooner than expected.