Knoedler, Freedman Settle First Suit Over Fakes

Bloomberg reported on Friday that lawyers for Pierre Lagrange, the hedgie who sued Knoedler over a fake Pollock, has dropped the suit after reaching a settlement with former Knoedler director Ann Freedman’s lawyers:

Lawyers for Lagrange, the gallery and the gallery’s former director, Ann Freedman, yesterday filed a stipulation to dismiss the case in federal court in Manhattan. Terms of the settlement are confidential, Nicholas Gravante, Freedman’s lawyer, said.

“Ms. Freedman continues to move forward, focusing on her artists and her gallery, and is pleased to have this litigation behind her,” Gravante said in a phone interview.

Closed New York Gallery Settles Suit Over ‘Forged’ Pollock (Bloomberg)