Press Releases
Statement from RJ Shook
August 24, 2026
Randall Lane and I met in 2011 as I was forming the Philanthropic Research Institute. We developed a strong friendship and a professional relationship.
Over the dozen years that followed, Randall and I maintained a close connection. He provided professional advice and guidance to me. In 2016, Randall helped to facilitate the partnership between Forbes Media and Shook Research. Later, he provided assistance in connection with my efforts to sell the Company which culminated in a transaction in which my wife Liz and I sold a controlling stake in Shook Research to PPC Enterprises in July 2025.
Following the closing of the PPC transaction, I made a payment of approximately $6 million to Randall in recognition of the services and guidance he had provided to me and the success I achieved as a result. The payment was not made in connection with Shook Research’s rankings or research process, and we did not disclose it to PPC.
My actions were taken with the best intentions, but ultimately the payment was a mistake. I deeply regret that this has raised questions about the integrity and independence of Shook’s rankings. At no time was Randall involved in the Company’s research methodology, data analyses, or advisor ranking determinations, and at no time were these processes influenced by my relationship with Randall.
Liz and I have entered into a settlement with PPC and Shook Research to resolve the matter. Liz and I will have no further role or ownership in the business going forward.
We hope and expect that the business will continue to provide best-in-class research and rankings to the investing public in the future under the leadership of the current management team.
