NEW YORK (AP) — A civil trial exposing the ugly underbelly of New York's art world has ended with a settlement.
The settlement came in federal court shortly before a one-time gallery president with a once sterling reputation was to testify how she and others were duped into selling forged fakes of modern masters such as Jackson Pollock and Mark Rothko.
Settlement terms were not disclosed.
Domenico De Sole, board chairman at Sotheby's auction house, brought the lawsuit after he bought a fake painting for $8.3 million. He sued the Knoedler & Company gallery and its former director.
The fake paintings, created by a Chinese immigrant, were sold between 1994 and 2011.
A lawyer for De Sole said they are "extremely pleased" with the outcome of the case.
Other lawyers in the case didn't immediately respond.