The now-defunct Knoedler & Co. gallery agreed to settle the lawsuit over an allegedly fake $17 million Jackson Pollock. The terms of the settlement are undisclosed. Pierre Lagrange, co-owner of London-based GLG Partners Inc., sued in 2011 over a the painting, Untitled 1950, because neither Sotheby’s or Christie’s would consign the work without its prior inclusion in the catalogue raisonné. The gallery, which had been in business since 1846, closed the day after the lawsuit was filed.

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