"Florida Project" producer Andrew Duncan is resigning from his independent production company amid allegations of sexual harassment.
CEO Alex Saks said plans to buy out Duncan's stake in the company, June Pictures, will be rolled out soon, reported Deadline.
"In light of allegations of misconduct against our investor Andrew Duncan, I am assuming sole ownership and leadership of June Pictures.
"June Pictures is committed to a respectful work environment dedicated to producing quality films. We will continue our projects already in production and development," Saks said in a statement.
The move comes after rumours of the producer's alleged sexual misbehaviour intensified over the last couple of weeks.
Duncan's departure comes at a bad time for the film, which is being touted as a candidate for an Oscar nomination for Best Picture.
The Sean Baker-directed movie follows a 6-year-old girl who embarks on an adventure with her friends and develops a relationship with her rebellious mother, while living in the shadows of Disney World.
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