Kevin Spacey film pulled from AFI film festival amid sexual misconduct allegations

— -- One of Kevin Spacey's upcoming projects has been pulled from the American Film Institute film festival, Sony confirmed Monday.

"All the Money in the World," a thriller starring Spacey, Michelle Williams and Mark Wahlberg, will open wide as planned on Dec. 22, the studio added.

The festival, which takes place in Los Angeles, is set to begin on Nov. 9 and runs through the 16th.

"'All the Money in the World' is a superb film and more than worthy of its place of honor in the AFI Fest. But given the current allegations surrounding one of its actors and out of respect for those impacted, it would be inappropriate to celebrate at a gala at this difficult time," said TriStar Pictures, a division of Sony. "However, a film is not the work of one person. There are over 800 other actors, writers, artists, craftspeople and crew who worked tirelessly and ethically on this film, some for years, including one of cinema’s master directors. It would be a gross injustice to punish all of them for the wrongdoings of one supporting actor in the film."

Added AFI Fest in a statement of its own: "AFI Fest celebrates film as a collaborative art form. We support Sony’s decision to postpone the premiere in order to ensure the thousands of people who worked together on this film are honored at a proper time and in a proper light.”

Spacey, 58, has been accused of groping actor Anthony Rapp and Richard Dreyfuss' son, Harry, among others. His publicist has not responded to ABC News' requests for comment, though People magazine reported last week that a representative for the actor said that Spacey "is taking the time necessary to seek evaluation and treatment."

Rapp, 46, claimed in an October interview with Buzzfeed that when he was 14, Spacey, who was in his twenties at the time, made a sexual advance toward him at a party. Spacey responded by stating that he while he didn't remember the alleged encounter, he was sorry for “the feelings he describes having carried with him all these years.”

After the allegation surfaced, Netflix and Media Rights Capital, the companies behind Spacey's show, "House of Cards," announced that production on the series had been suspended. On Friday, Netflix stated that it had severed ties with the actor.

"Netflix will not be involved with any further production of 'House of Cards' that includes Kevin Spacey," a Netflix spokesperson said in a statement, adding that the company was no longer moving forward with "Gore," a film in which Spacey was set to star.

"While we continue the ongoing investigation into the serious allegations concerning Kevin Spacey’s behavior on the set of 'House of Cards,' he has been suspended, effective immediately," MRC said in a statement of its own. "MRC, in partnership with Netflix, will continue to evaluate a creative path forward for the program during the hiatus."