Weinstein Co. Files For Bankruptcy Protection

NEW YORK (CBSNewYork/AP) -- The Weinstein Co. has filed for bankruptcy protection with a buyout offer in hand from a private equity firm, the latest twist in its efforts to survive the sexual abuse scandal that brought down co-founder Harvey Weinstein.

The company also announced on Monday that it was releasing any victims of or witnesses to Weinstein's alleged misconduct from any non-disclosure agreement that would prevent them from speaking out.

In a statement, the company says it "expressly releases any confidentiality provision" to the extent that it has prevented anyone who "suffered or witnessed any form of sexual misconduct by Harvey Weinstein from telling their stories."

The Weinstein Co. says it has entered into sale agreement with Lantern Capital Partners, subject to approval by the U.S. Bankruptcy Court in Delaware.

In a statement released Monday night, Attorney General Eric Schneiderman said, in part: "This is a watershed moment for efforts to address the corrosive effects of sexual misconduct in the workplace."

"The Weinstein Company's agreement to release victims of and witnesses to sexual misconduct from non-disclosure agreements -- which my office has sought throughout this investigation and litigation -- will finally enable voices that have for too long been muzzled to be heard," Schneiderman continued.

(© Copyright 2017 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.)