A major legal battle over the estate of copper heiress Huguette Clark has reached a settlement, with the Corcoran Gallery of Art receiving a large share of Clark’s fortune, including $10 million in cash, half the proceeds from the sale of Monet’s Water Lillies, and a seat on the board of a new national arts foundation.  “We’re going to be very guarded with these funds,” said Corcoran President Peggy Loar. “This will help our operating situation, but very carefully.” (more…)

James Meyer, an assistant to Jasper Johns, who worked for the artist for over 27 years, was arrested on Wednesday, accused of stealing at least 22 unfinished works from his employer, and selling them through an unnamed New York gallery for over $6 million. Meyers was arraigned in a Hartford courtroom, and pleaded not guilty to the charges.  He was released on an unsecured $250,000 bond.  “Jasper has taught me to think about what I’m making before I make it.” Meyer once said of his employer and mentor. (more…)