Weinstein Co. files for bankruptcy

Harvey Weinstein
Harvey Weinstein. Photo: Dimitrios Kambouris / Getty Images for TNT

"Harvey Weinstein's embattled movie studio — once a premier maker of award-winning films — has filed for Chapter 11 bankruptcy more than five months after sexual misconduct allegations against its co-founder sent the company spiraling out of control," the L.A. Times reports.

The big picture: The company is also releasing its employees from non-disclosure agreements as part of the bankruptcy filing. New York AG Eric Schneiderman, who has been investigating the company, said, "The Weinstein Company's agreement to release victims of and witnesses to sexual misconduct from non-disclosure agreements ... will finally enable voices that have for too long been muzzled to be heard."