The Hollywood studio co-chaired by Harvey Weinstein has launched an inquiry into allegations of sexual harassment concerning the producer.
The board of the Weinstein Company said it was taking claims made in a piece published by the New York Times "extremely seriously".
Mr Weinstein issued an apology on Thursday, and announced he was taking leave of absence following the emergence of allegations made by women with whom he had worked.
These women include Kiss The Girls star Ashley Judd and Rose McGowan, who appeared in films including Scream, according to the NYT.
The firm's board said on Friday that a majority of its members "strongly endorsed" co-founder Mr Weinstein's decision to step aside indefinitely while he receives "professional help for the problems he has acknowledged".
What the future holds for Weinstein "depends on Harvey's therapeutic progress, the outcome of the Board's investigation and Harvey's own personal decisions," the board said in a statement.
"It is essential to our company's culture that all women who work for it or have any dealings with it or any of our executives are treated with respect and have no experience of harassment or discrimination," the statement said.
"We believe it is important to learn the full truth regarding the article's very serious accusations, in the interests of the company, its shareholders and its employees.
"To that end, we have retained an independent and leading lawyer and firm... to undertake a thorough and independent investigation."