James Franco, Picture: Richard Showtell, AP

James Franco's hand-painted mural has been removed by his high school following the sexual misconduct allegations made against the actor.

The 39-year-old Academy Award nominated actor graduated from Palo Alto Senior High School, in California, back in 1996 and in 2014, James took part in a number of fundraising events for the school including contributing hand-painted artwork and murals.

However, now the artwork has been taken down after a decision was made by the principal Kim Diorio following the sexual misconduct allegations made by five women.

Kim told the school publication The Paly Voice: "I made the decision we'll take down the mural on the Student Center because I think that's the one that's most visible to the outside community.

"These are still allegations. I can't even say it [the decision to replace the mural] is based on fact because he's denied those allegations and hasn't been charged with a crime."

'The Disaster Artist' star became the subject of speculation after several women, including 'The Breakfast Club' actress Ally Sheedy made accusations about him on social media during the Golden Globes Awards, where he picked up the award for Best Actor in a Musical or Comedy for his performance in 'The Disaster Artist'.

Franco appeared on 'The Late Show with Stephen Colbert' to address the claims.

Asked about the tweets he said: "I haven't read them. I've heard about them,"

He continued: "I have no idea what I did to Ally Sheedy. I had nothing but a great time with her. I have total respect for her."

James told the host he fully supports the Times Up movement against sexual harassment, sexual assault and gender bias in the entertainment industry, which was the focus of the awards ceremony.

He said: "I was so excited to win, but being in the room that night was powerful. I support change."