Non-disclosure settlement agreements: Cy Twombly Foundation

Here’s news of a settlement agreement with what is obviously a non-disclosure and maybe non-disparagement clause: Settlement Reached in Cy Twombly Foundation Lawsuit – NYTimes.com.

How do we know there’s a non-disclosure clause? Because Randy Kennedy’s Times article (with my bolding for emphasis) tells us…

The foundation of the artist Cy Twombly, who died in 2011, has reached a settlement in a bitter legal battle against two of its directors, who were accused in civil court of taking unauthorized fees and of engineering inflated appraisals for artwork to pad their commissions.

The settlement – involving Ralph E. Lerner, a prominent art-world lawyer and one of the foundation’s four directors; and another director, Thomas H. Saliba, a financial adviser – was approved on Thursday night in chancery court in Delaware. The full terms of the settlement are confidential, but they involve Mr. Lerner and Mr. Saliba resigning their positions, and Mr. Lerner dropping a lawsuit he had filed in the same Delaware court asking a judge to intervene in the foundation’s dispute, saying that it had become deadlocked.

How did this Cy Twombly Foundation lawsuit (Cy Twombly Foundation Embroiled in Lawsuits – NYTimes.com.) pass by the eagle eyes of Sidebar’s proprietor?

This entry was posted in Law, suits and order, O. Settlement or verdict and tagged , , . Bookmark the permalink.