Kevin Spacey's ' Billionaire Boys Club' to release in August

Kevin Spacey-starrer 'Billionaire Boys Club' is set to hit select theaters in August.

Despite accusations of sexual harassment and assault against Spacey, the movie will be released more than two years after it was filmed.

According to Vertical Entertainment, the entire cast should not suffer because of the disgraced actor.

"We hope these distressing allegations pertaining to one person's behaviour -- that were not publicly known when the film was made almost two-and-a-half years ago and from someone who has a small, supporting role in 'Billionaire Boys Club' -- does not tarnish the release of the film," the distributor said in a statement to CNN.

"We don't condone sexual harassment on any level and we fully support victims of it. At the same time, this is neither an easy nor insensitive decision to release this film in theaters, but we believe in giving the cast, as well as hundreds of crew members who worked hard on the film, the chance to see their final product reach audiences," the company added.

"In the end, we hope audiences make up their own minds as to the reprehensible allegations of one person's past, but not at the expense of the entire cast and crew present on this film."

The film, starring Emma Roberts, Jeremy Irvine, Judd Nelson, Cary Elwes and Billie Lourd, is set to release on August 17.