“We found Mr. Wasserman’s relationship with Epstein and Maxwell did not go beyond what has already been publicly documented,” the committee said in a statement to the BBC.
The BBC has contacted representatives for Wasserman.
The LA28 volunteer board of directors includes many entertainment, political, sports and business figures, such as Dreamworks CEO Jeffrey Katzenberg and former House Speaker Kevin McCarthy.
Wasserman has said he “deeply regrets” decades-old flirtatious emails with Maxwell, Epstein’s accomplice who is currently serving a 20-year prison term for the sex trafficking of minors.
He also emphasised that he had “never had a personal or business relationship with Jeffrey Epstein”.
The sports and entertainment executive has not being accused of any wrongdoing in relation to Epstein.
The LA28 board said in its statement that it takes allegations of misconduct seriously and that Wasserman fully cooperated with its review by outside counsel.
“Twenty-three years ago, before Mr. Wasserman or the public knew of Epstein and Maxwell’s deplorable crimes, Mr. Wasserman and his then-wife flew on a humanitarian mission to Africa on Epstein’s plane at the invitation of the Clinton Foundation. This was his single interaction with Epstein. Shortly after, he traded the publicly-known emails with Maxwell,” the statement said.
Based on those factors, the statement added, as well as “the strong leadership” Wasserman has exhibited over the past decade, the executive committee of the board determined that he should continue to lead LA28.
Singer Chappell Roan announced her split with Wasserman’s namesake firm this week, saying that she has a “duty to protect her team” and her decision reflected her belief that “meaningful change in our industry requires accountability”.
Roan made no mention of Epstein, nor the Epstein files, in her statement on Instagram.
Hall of Fame US football striker Abby Wambach likewise announced that she was leaving the agency writing on Instagram: “I read Casey Wasserman’s correspondences in the Epstein files. I know what I know, and I am following my gut and my values. I will not participate in any business arrangement under his leadership.”
According to the Los Angeles Times, Wasserman is also facing calls by artists and staff from inside his agency to step down from or sell the firm.
Monica Rodriguez, who joined some other LA city council members to call for Wasserman’s resignation last week, pushed back on the board’s Wednesday decision.
Rodriguez, who serves on a committee that oversees the Olympic Games in LA, told the Los Angeles Times that residents “deserve leadership that understands the gravity of these revelations”.