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It was preserved as a record on September 14; the timeline below shows how it unfolded, with sources. Get the briefing to follow the top situations still developing: three emails a week, sourced and in order.

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2 clusters · 13 sources · 3 days · First seen · Last updated

Forbes editor dismissal over undisclosed payment

Overview

Forbes dismissed its top editor and chief content officer, Randall Lane, following the discovery of an undisclosed $6 million payment from RJ Shook, the founder of Shook Research. Shook Research has partnered with Forbes since 2016 to produce rankings of wealth management professionals.

The transaction was identified during a review of company emails by PPC Enterprises, a private equity firm that acquired a majority stake in Shook Research. Lane, who had been with the publication for nearly 16 years, characterized the funds as a “gift in recognition of advice” he had provided to Shook over the years.

In response to the discovery, Lane admitted to a “serious error in judgment” regarding his failure to disclose the payment. Forbes stated that it took immediate action once the undisclosed conflict of interest was brought to its attention.

Entities

Shook Research · RJ Shook · Randall Lane · Forbes · PPC Enterprises

Timeline

  1. about 1 month ago

    [BUSINESS] 2 sources
    Forbes Chief Content Officer Randall Lane fired over $6M payment

    Forbes chief content officer Randall Lane was fired after the company discovered he received a secret $6 million payment from the founder of a firm that does business with the magazine.

  2. about 1 month ago

    [BUSINESS] 11 sources
    Forbes fires top editor over undisclosed $6 million payment

    Forbes dismissed chief content officer Randall Lane after discovering he received an undisclosed $6 million payment from the founder of Shook Research, a firm that produces wealth rankings for the magazine.

Sources

fineartandyou.com · ibtimes.co.uk · independent.co.uk · it-boltwise.de · lucianne.com · mymotherlode.com · news.yam.md · newsbusters.org · sentinelcolorado.com · srnnews.com · thewrap.com · triblive.com · whec.com