NEW YORK, July 13. /TASS/. Four out of five board members of Weinstein Company will step down on Friday, including chairman Bob Weinstein, the brother of embattled film producer Harvey Weinstein, the Variety magazine has reported citing a company statement.

The other departing board members are Lance Maerov, Tarak Ben Ammar, and Frank Rainone. Bankruptcy consultant Ivona Smith, who was brought on to assist with the bankruptcy sale, will be the sole remaining member.

According to Variety, the board’s work on winding down the company’s bankruptcy and its transfer to Lantern Capital was largely complete.

Lantern Capital is set to take control of the company on Friday, after completing the $289 million transaction. After a series of layoffs, the company’s workforce is estimated at about 40 employees.

Weinstein Company faced serious difficulties after The New York Times published in October 2017 an article following a journalistic investigation, which said that Harvey Weinstein had been sexually harassing his female staff for about 30 years. Earlier this year, Weinstein was accused of rape and sexual misconduct.

In the wake of the scandal, the 66-year-old producer left the Weinstein Company, which he personally established in 2005 with his brother Bob.

Movies, created with participation of companies led by Weinstein, were nominated for the Academy Awards about 300 times. Five of them have won the Best Picture prize - English Patient (1996), Shakespeare in Love (1998), Chicago (2002), The King’s Speech (2010) and The Artist (2014).