Washington DC, July 22 -- Former film producer 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, according to Variety.

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 that sought to blame his brother and two other employees for the collapse of the Weinstein Company.

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 u...