The Family Management Corporation, a wealth manager and financial consultant, has hired lobbyist Stuart Shorenstein, to lobby Washington on financial and tax issues, according to a lobbying registration filed last week.
The specific lobbying issue: “Treatment of losses relating to Bernard L. Madoff Investment Securities LLC.”
FMC was the target of 2008 class-action lawsuit. From Stanford Law School’s Securities Class Action Clearinghouse:
Defendant FMC, general partner of the Fund, concentrated more than half of the Fund’s investment capital with at least three funds of funds (“FOFs”) — Andover, Beacon and Maxam — that, in turn, all heavily invested in entities managed by Bernard Madoff (“Madoff”) or Madoff-related entities. Investors who entrusted their savings to FMC suffered millions in damages as a result of Madoff’s fraudulent scheme.
Who is Stuart Shorenstein? From the website of Cozen O’Connor:
Mr. Shorenstein served as a member of the Clinton/Gore transition team focusing on the operations of the Federal Communications Commission. He also helped lead the transition team for then-Attorney General-Elect Elliot Spitzer. He has been active in the judicial selection process in New York and served as Administrator of the 1995 Independent Judicial Screening Panel to recommend the most highly qualified candidates for judgeships in New York City. has also acted as an arbitrator in litigated disputes involving the telecommunications industry.
