Argento is upset about a statement McGowan made on August 27 about making a monetary payoff to former child star Jimmy Bennett, who claimed Argento sexually assaulted him in a California hotel room in 2013.
"It is with genuine regret that I am giving you 24 hours to retract and apologise for the horrendous lies made against me in your statement of August 27th", actress and filmmaker Argento said. "If you fail to address this libel I will have no option other than to take immediate legal action".
Rose has not yet issued a public response.
In McGowan's statement, she urged the actress to be "honest and fair" following allegations that she had reached a $380,000 settlement with Jimmy Bennett at the end of past year, after he accused her of sexual assault. Anyone can be be better - I hope you can be, too. "Be the person you wish Harvey could have been".
In her statement McGowan said Argento had texted her lover, Rain Dove, admitting that she had slept with Bennett, and also alleged the texts contained a confession she had been receiving unsolicited explicit pictures from him since he was aged 12.
Argento denied Bennett's allegations, but McGowan chose to sever ties with her friend anyway. Argento has denied the accusations on numerous occasions, and suggested that it was partly her late boyfriend Anthony Bourdain's decision to agree to pay Bennett rather than risk controversy. Argento called McGowan's comments "horrendous lies" and "libel". Be honest. Be fair.
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"Asia you were my friend", McGowan said.
Italian actress Asia Argento, who has accused movie mogul Harvey Weinstein of sexual assault, told the closing ceremony of the Cannes Film Festival there were abusers in the audience who had yet to be outed.
The New York Times said it had lawyers' documents showing that Bennett alleged Argento sexually assaulted him in 2013 when he was 17 and she was 37. "Whether or not the extortion case is true - it wasn't fair and it wasn't right".
Rose later accused Argento of lying about being extorted by Bennett. Rose, previously, said in her statement, "let justice stay its course".