Andrew Duncan, the producer of awards contender “The Florida Project,” is stepping down from his indie production company amid allegations of sexual harassment.

Duncan launched June Pictures a year ago, and has produced a handful of independent films including “Operator” with Martin Starr, and “Thoroughbred,” a breakout film at the Sundance Film Festival. In a statement, CEO Alex Saks said she has solidified plans to buy out Duncan’s stake in the company.

“In light of allegations of misconduct against our investor Andrew Duncan, I am assuming sole ownership and leadership of June Pictures,” Saks said. “June Pictures is committed to a respectful work environment dedicated to producing quality films. We will continue our projects already in production and development.”

Rumors of Duncan’s alleged sexual misconduct have been circulating for the last couple of weeks. The ouster poses a potential problem for “The Florida Project,” a portrayal of children living in poverty from director Sean Baker (“Tangerine”). The film, which features non-professional and first-time actors, has picked up regional critics awards and is considered a contender for an Academy Award nomination for best picture. Willem Dafoe was nominated for a Screen Actors Guild award and a Golden Globe for his supporting role.

Duncan got into film investing after a career in Silicon Valley. According to his bio, he was executive vice president at Scalent Systems in Palo Alto, and did stints at Cassatt Corporation, EMC Corporation and Tektronix. He later founded IGX LLC, a film investment company that became June Pictures.

The news was first reported by Deadline.