Ann Freedman, longtime Knoedler & Co. dealer and co-defendant with the gallery in a suit brought by collectors Domenico and Eleanore De Sole over the sale of a forged Rothko, has reached a settlement with the De Soles. “From the very beginning of these cases, Ann never wanted to keep a penny of the profits she made,” an attorney for Freedman told the New York Times, which reported that the settlement was reached Sunday. The terms of the agreement were not disclosed; the De Soles had sought damages of $25 million in their original claim against both parties.
The out-of-court deal comes after two weeks of testimony were heard in the trial, and only one day before Freedman was expected to take the stand when the trial resumes on Monday. Of the ten cases brought against Freedman in connection with Knoedler’s sale of forged paintings by Mark Rothko, Barnett Newman, and others, she has settled six, though four further suits are pending.
The suit brought by the De Soles is now expected to proceed with Knoedler & Co. as the sole defendant.
— Mostafa Heddaya (@mheddaya)
(Photo: Former Knoedler Gallery director Ann Freedman. ©Patrick McMullan.)