Warner Bros. has confirmed that it will not renew its financing deal with Hollywood director and producer Brett Ratner in the wake of multiple allegations of sexual harassment and misconduct against him.

The announcement, made on Wednesday (April 11th), severs the last remaining ties between the studio and Ratner, whose production credits include Rush Hour and Horrible Bosses. Warner Bros.’ $450 million deal with Ratner's RatPac-Dune Entertainment financing company will therefore expire with the American release of Rampage, starring Dwayne ‘The Rock’ Johnson, on Thursday this week.

A spokesperson for Warner Bros. confirmed the decision to the media soon after a report had appeared in the Los Angeles Times.

Brett RatnerBrett Ratner's lucrative financing deal with Warner Bros. will not be renewed

The slate deal between Warner Bros. and Ratner struck in 2013 began to fall apart when Warner distanced itself from Ratner back in November last year, very soon after a number of women, including actresses Olivia Munn and Natasha Henstridge, came forward to allege that Ratner had committed a number of acts of sexual misconduct or assault, including harassment, inappropriate touching and forced oral sex.

More: Warner Bros. split from Brett Ratner following sexual misconduct claims

49 year old Ratner had also said that he had chosen “personally step away” from the studio to avoid “any possible negative impact”.

His lawyer Martin Singer previously “categorically” disputed the claims of six women in the Los Angeles Times published on November 1st, telling the newspaper: “I have represented Mr. Ratner for two decades, and no woman has ever made a claim against him for sexual misconduct or sexual harassment.”

The director and producer has kept a low profile since the allegations surfaced, having also been removed as a producer on Warner Bros.' film adaptation of best-selling novel 'The Goldfinch'. Furthermore, Playboy mothballed Ratner's planned Hugh Hefner biopic.

More: Brett Ratner forced to apologise for “offensive” trailer for ‘Tower Heist’ [archive]