The Weinstein Company's board of directors has fired the man who co-founded the firm.

Harvey Weinstein, who set up the company with his brother Bob in 2005 when he left Miramax, was sacked by his company's board of directors after "new information" of sexual misconduct by the mogul came to light.

He had faced eight sexual harassment allegations after which an investigation was launched by his company's board.

The actress Ashley Judd had alleged that Weinstein asked her to give him a massage or watch him shower, while other women reported he offered to help them with their careers in exchange for sexual favours.

"I appreciate the way I've behaved with colleagues in the past has caused a lot of pain, and I sincerely apologise for it," Weinstein said on Thursday (5 October).

Harvey Weinstein had asked for a "second chance" after revelations of the claims were reported by the New York Times. The paper stood by its story following his move to sue for libel as he denies some of the allegations made against him.

But in a statement on Sunday night (8 October), the firm's board said: "In light of new information about misconduct by Harvey Weinstein that has emerged in the past few days, the directors of The Weinstein Company...have determined, and have informed Harvey Weinstein, that his employment with The Weinstein Company is terminated, effective immediately".

A spokesperson for the firm would not give any further details on the firing.

Board member Lance Maerov said the board's had found Weinstein had violated the company's code of conduct in the past week but he did not go into any further details, the New York Times reported.

Harvey Weinstein
Hollywood producer Harvey Weinstein arrives at the Oscars in Hollywood, in February 2017.Reuters