It comes after it emerged that his new movie, 'I Love You, Daddy,' has been shelved.
Louis C.K. has responded to accusations of sexual misconduct from five women in a lengthy statement in which he acknowledges, "These stories are true."
The comic issued a the statement Friday, a day after The New York Times published an explosive report detailing the experiences of the women.
"At the time, I said to myself that what I did was okay because I never showed a woman my d*** without asking first, which is also true," he said in the statement. "But what I learned later in life, too late, is that when you have power over another person, asking them to look at your d*** isn’t a question. It’s a predicament for them. The power I had over these women is that they admired me. And I wielded that power irresponsibly."
He said that he had been remorseful for his actions and now realizes the affect they had on the women.
"I also took advantage of the fact that I was widely admired in my and their community, which disabled them from sharing their story and brought hardship to them when they tried because people who look up to me didn’t want to hear it," his statement continued. "I didn’t think that I was doing any of that because my position allowed me not to think about it.
"There is nothing about this that I forgive myself for. And I have to reconcile it with who I am. Which is nothing compared to the task I left them with."
The New York Times shared the stories of several women who claimed the comic had behaved inappropriately toward them in an explosive article Thursday. The paper reported that in some cases, Louis C.K. allegedly undressed and masturbated in front of them.
A day after the piece was published, his new movie, I Love You, Daddy, was shelved. It was supposed to be released in the U.S. on Nov. 17.
“The Orchard will not be moving forward with the release of I Love You, Daddy,” the indie film production company said Friday in a statement to Variety.
The move followed the cancellation of the New York premiere of I Love You, Daddy the night before, as well as Louis C.K.'s appearance on The Late Show with Stephen Colbert.
In addition, a planned appearance on HBO’s Night of Too Many Stars special was nixed. The cable channel also pulled its previous collaborations with him from its streaming services.
The FX network, which has teamed up with Louis C.K. on numerous projects, including Better Things and Baskets, said it was investigating the matter.
