After the charges were announced, the firms quickly sought to distance themselves from the accused. A lawyer for Mr. Caplan and a spokesman for Mr. McGlashan declined to comment on Wednesday. It moved quickly to install Jim Coulter, its chief executive and a co-founder, as acting chief of the Rise Fund. On Wednesday, Mr. McGlashan stepped down from the board of STX Entertainment, the film studio that he helped found with the producer Robert Simonds. The news was shared in an internal memo sent to STX employees and reviewed by The New York Times.

Source: New York Times March 13, 2019 23:29 UTC