Wilbur Ross failed to disclose to a Senate committee during his confirmation hearing last month that he is being sued by a former business partner who claims he was cheated out of profits from Ross’ hedge funds, The Post has learned. The former partner, David Storper, who was the senior managing director at WL Ross, filed the lawsuit in state court in Manhattan in 2015, and it could go to trial as soon as this year. Ross was asked by a Senate committee to list all lawsuits filed against him.
Ross, nominated to be secretary of commerce, did list plenty of lawsuits when he submitted his answers on Jan. 3 to the Senate Committee on Commerce, Science & Transportation — but not Storper’s 2015 action. The billionaire investor failed to list the Storper suit because he confused it with another lawsuit filed by the according to Ross’ lawyer.
“It was simply a clerical error,” said the lawyer, Theodore Kassinger, of O’Melveny, taking full responsibility for the oversight. “The case description was otherwise accurate” on the questionnaire, the lawyer said. It is not yet known if failing to list the lawsuit will have any bearing on the Ross nomination.
Ross also failed to list a second lawsuit filed against him — by shareholders of a South Carolina company who claimed they were victims of and a breach of fiduciary duty. The Senate committee found out about that suit, however, and questioned Ross about it during his confirmation hearing last month. Ross and his firm settled the case in 2014 for $81 million.
The committee recommended Ross’ nomination Jan. 23, and the nominee is now awaiting a vote from the full Senate..