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Wilbur Ross settles with ex-partner after being subpoenaed

Wilbur Ross settles with ex-partner after being subpoenaed

US Commerce Secretary Wilbur Ross reached a confidential settlement with an ex-business partner roughly a week after being subpoenaed for documents that would have called his truthfulness into question.
On July 16, former WL Ross & Co. Managing Director David Storper sent Ross a subpoena as part of his roughly $9 million lawsuit against him, commanding Ross to appear July 30 as part of the New York State Supreme Court trial, according to court documents.
The Storper subpoena wanted Ross to produce documents from his Senate confirmation hearings, where he did not disclose the 2015 Storper suit, as well as his communications with Forbes Magazine in which he allegedly inflated his net worth.
Ross fought the subpoena, saying it was irrelevant to the case, and New York State Supreme Court Judge Andrea Masley was expected to rule July 25 on whether to enforce the subpoena.
The trial would have started days after.
Forbes broke the news about the settlement, without detailing what might have prompted it.
Storper commanded Ross to produce all ethics forms submitted to any government entity in connection with his nomination to be Commerce secretary, according to court documents.
The Post reported exclusively in February 2017 that Ross was asked by a Senate committee to list all lawsuits filed against him, and that he had failed to disclose the Storper action.
Ross’ team in arguing against the subpoena said the lawsuit omission in the Senate disclosure forms was a “simple error” that was “subsequently corrected,” according to court documents.
Terms of the settlement were not disclosed.

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