De Sole, Freedman Settlement

Desole2Domeneco and Eleanor De Sole have entered into an agreement that ends all claims against Ann Freedman over their $8.4 million purchase of a bogus Rothko painting from the Knoedler gallery in 2004. The suit against the gallery continues.

Why was there a settlement? Perhaps it was a sincere attempt on the part of Ms. Freedman to make the De Soles whole again. Maybe the De Soles knew that if the case had gone to the jury, it might have found Freedman guilty of fraud, but it might also have opted not to award damages to the De Soles — because of mitigating circumstances, like the fact that the De Sole’s art adviser had also authenticated the fake Rothko purchased by them.

Update 2/10/16: The De Soles have now settled with Knoedler & Co. gallery too.

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