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Net Net: Promoting innovation and managing change

Ex-hedgie halts political run over harassment suit

Marc Abrams
Source: Marc Abrams for State Representative | Facebook

A hedge fund manager-turned-politician has suspended his campaign for Connecticut's general assembly because of resurfaced sexual harassment allegations.

Greenwich-area Democrat Marc Abrams was sued in 2010 by two women who worked for Titan Capital, the investment firm he founded with his brother Russell.

Abrams characterized the lawsuit—which alleged that the Abrams brothers used their power to "intimidate, degrade and discriminate against women"—as frivolous in an interview with Hearst's Connecticut Media Group. But under pressure from Gov. Dannel Malloy and others, Abrams paused the campaign citing ongoing state court claims.

"While we always knew this was going to be an uphill battle, we never foresaw this level of negative attack possible in our community. I was ready before and ready now to win this election based on the merits," Abrams said in a statement Friday. "But my first priority is to my family and although they understood these false allegations may be brought up, we never fathomed the level of viciousness. I cannot in good conscience be a part of my family being subjected to this onslaught, and I am therefore withdrawing from the race."

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Abrams also noted that the charges were dismissed in federal court and he was exonerated by the U.S. Equal Employment Opportunity Commission.