Settlement Reached in Cy Twombly Foundation Lawsuit

March 20th, 2014

The ongoing dispute between two members of the Cy Twombly Foundation appears to have reached a settlement, the New York Times reports.  Twombly Foundation President Nicola Del Roscio and Vice President Julie Sylvester had filed suit accusing fellow director Thomas Saliba and lawyer Ralph Lerner of valuing several Twombly works (held in their own trust) at a highly inflated $1 billion.  The settlement terms, while not all stated, involved Salbia and Lerner resigning their positions in the Foundation.

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