"First of all, I have no idea what I did to Ally Sheedy," Franco said when asked by Colbert about the allegations.
"I directed her in a play Off Broadway, I had nothing but a great time with her, total respect for her. I have no idea why she was upset."
"The things that I heard that were on Twitter are not accurate, but I completely support people coming out and being able to have a voice," he continued. "If there's restitution to be made, I will make it."
"I'm here to listen and learn and change my perspective where it's off," Franco said.
Tither-Kaplan on Twitter said that she felt forced to perform two nude scenes in a film for Franco.
"Hey James Franco, nice #timesup pin at the #GoldenGlobes , remember a few weeks ago when you told me the full nudity you had me do in two of your movies for $100/day wasn't exploitative because I signed a contract to do it? Times up on that!" she said.
"I one hundred percent did not feel like I had a choice to say no. Best wishes to you!" she later added in response to a Twitter user.
The third woman, Violet Paley, said on the social media platform that Franco tried to force her to perform oral sex on him.
"Cute #TIMESUP pin James Franco. Remember the time you pushed my head down in a car towards your exposed penis & that other time you told my friend to come to your hotel when she was 17? After you had already been caught doing that to a different 17 year old?" she said.
"A couple weeks ago, James offered me & a few other girls an overdue, annoyed, convenient phone 'apology'. I don't accept, but maybe some other people's lives would be made easier if he donated all of his earnings from The Disaster Artist to @RAINN01," she continued.
The allegations led to the New York Times canceling a TimesTalk event with Franco and his brother Dave Franco who were scheduled to discuss "The Disaster Artist," Deadline reported.
Franco was previously under fire in 2014 when he admitted to asking out a 17-year-old girl.
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