"In light of the allegations being made, I am choosing to personally step away from all Warner Bros.- related activities," Ratner said in the statement. "I don't want to have any possible negative impact to the studio until these personal issues are resolved."
As part of the studio's move to cut ties with Ratner, he will be removed as a producer on their upcoming adaptation of the best-selling novel The Goldfinch, according to the The Hollywood Reporter.
Ratner's production company, RatPac Entertainment, will also lose their offices on the studio lot, according to THR. The offices had once famously been used by Frank Sinatra. Additionally, Ratner's first-look deal with Warner Bros., which had already expired, won't be renewed.
Earlier in the day, Playboy decided to put its planned Hugh Hefner biopic on hold, which Ratner was slated to direct and produce
“We are deeply troubled to learn about the accusations against Brett Ratner," a Playboy spokesperson tells ET. "We find this kind of behavior completely unacceptable. We are putting all further development of our projects with RatPac Entertainment on hold until we are able to review the situation further.”
According to Ratner's attorney, Marty Singer, the producer “vehemently disputes” the allegations made against him by Munn and the other women whose claims were included in the L.A. Times report.
"I have represented Mr. Ratner for two decades, and no woman has ever made a claim against him for sexual misconduct or sexual harassment," Singer told The Times in a lengthy letter on Wednesday. "Furthermore, no woman has ever requested or received any financial settlement from my client."
Watch the video below for Munn's history of alleged incidents with Ratner.