In recent art world news, one of the largest art scandals in New York has come to a close with the recent settlement of the last of ten lawsuits brought against Ann Freedman, the former director of the now defunct Knoedler Gallery, that arose from a $70 million forgery ring forcing the long established, renowned art gallery to close in 2011. The lawsuit was brought by a California art collector who with her then husband had purchased a purported Jackson Pollock for $3.1 million in 2000. The terms of the settlement were filed in federal court in Manhattan in late August and were not disclosed.
According to Freedman’s attorney, all of the cases had been amicably resolved and Freedman was thankful that she can now focus on her own art gallery, FreedmanArt, which opened on the Upper East Side in Manhattan in 2011.
The plaintiffs in the lawsuits, who also sued Knoedler Gallery and its holding company 8-31 Holdings, alleged that “Knoedler and Freedman knew or should have known that the works were fake, an allegation the defendants denied.” Two lawsuits against Knoedler Gallery and 8-31 Holdings remain ongoing.
For our previous coverage of the Knoedler Gallery litigation on the Art Law blog, see “The Knoedler Gallery Litigation – Can Art Buyers Rely On Dealer Representations?” and “Extradition Of Alleged Member Of Knoedler Forgery Ring And Settlement Of The Knoedler Litigation,” published online in February 2016.