“It is true that Judge (Mary) Walrath approved the settlement plan at a hearing today,” Attorney Paul Zumbro said, adding that they are “pleased with Judge Walrath’s ruling, and particularly so given there is now a mechanism that allows victims to receive compensation without having to endure the hardships and uncertainties of litigation.”
CNN has reached out to Elizabeth A. Fegan, an attorney for the class action plaintiffs, for comment.
The company’s $35.2 million liquidation plan allocates $17,064,525.30 for the establishment of a “Sexual Misconduct Claims Fund” and a liquidation trust for the payment of sexual misconduct claims, according to court documents.
The approved plan also provides $9.7 million for legal costs, none of which provide any reimbursement for any defense costs and expenses incurred by Harvey Weinstein. An additional $8.4 million will be allocated to a liquidation trust to settle claims unrelated to sexual misconduct, the documents state.