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Harvey Weinstein has dropped a lawsuit against his brother Bob, in which he accused his sibling of “financial betrayal” that led to the collapse of his company.

Harvey Weinstein is in jail awaiting sentencing after he was convicted in June of sexual assault for a third time.

In February, his lawyers filed a counterclaim in a long-dormant lawsuit, seeking to reassign blame for the demise of the Weinstein Co. to his brother and two other employees.

Harvey Weinstein was exposed to dozens of sexual assault and harassment allegations in the fall of 2017, leading to his ouster from the company. Fatally wounded, the company declared bankruptcy a few months later, and its library was ultimately folded into Lionsgate.

In the counterclaim, Harvey Weinstein asserted that Bob Weinstein and David Glasser took millions in unjustified payments before the bankruptcy, leaving it vulnerable to insolvency. He also accused Reiter, the company’s longtime accountant,...

Harvey Weinstein has voluntarily discontinued his fraud and financial conspiracy claims against his brother, Bob Weinstein.

In a suit, which was filed in the Supreme Court of the State of New York in February, Weinstein alleged that Bob Weinstein, David Glasser and others made Harvey Weinstein guarantee a $45 million loan from AI International Holdings in 2016 to support the film production and distribution company. Harvey Weinstein alleged that the money was not used to help the company, but rather that Bob Weinstein and Glasser took the money for “personal use, unauthorized bonuses, and unrelated financial dealings.” Harvey Weinstein alleged he was then wrongfully left solely responsible for repaying the loan after his sexual assault allegations led to a breach of contract.

On July 18, Harvey Weinstein voluntarily discontinued the claims against his brother, Bob Weinstein, with prejudice, meaning that the claims cannot be retried. The move did not involve any settlement or any paid consideration.

Harvey Weinstein, who is jailed at Rikers Island and in failing health while he awaits his third rape trial, has filed an unusual lawsuit accusing his brother of siphoning funds from their company prior to its collapse.

In the complaint, filed in New York State court, Harvey Weinstein accuses his brother Bob Weinstein and David Glasser, the chief operating officer, of diverting funds to pay themselves bonuses and for other improper purposes.

The complaint seeks to reassign blame for the collapse of the Weinstein Co. in November 2017. The company filed for bankruptcy after the revelation of Harvey Weinstein’s decades of sexual assault and harassment allegations made him an industry pariah. But in Weinstein’s telling, his brother, Glasser and others were responsible for a “financial betrayal” that left the company weakened and ultimately insolvent.

Weinstein filed the complaint in response to a long-dormant breach of contract suit, which was...

Harvey Weinstein is set to go to trial again in New York City for rape in April, however in the meantime, the incarcerated former producer is lashing out legally at his brother Bob Weinstein and former COO David Glasser over an old $45 million loan that was supposed to save The Weinstein Company in 2016.

Seeking a self-described “claw back of any improperly appropriated or ill gained assets and/or monetary sums taken by Third-Party Defendants” and other damages, Weinstein’s filing is “an action for fraud arising from the Defendants’ inducement of Weinstein to sign as a personal guarantor for a $45 million business loan from AI International Holdings (Bvi) Limited to TWC Borrower 2016, LLC, which the Defendants then pilfered and misappropriated for their own uses and benefits, in blatant violation of the loan’s intended purpose, wrongfully leaving Weinstein solely liable for repayment when AI International, as the lender, sought to enforce the guarantee.