In an opinion Tuesday, Judge Furman ruled that the complaint in an “international saga” of fraud in the art world must be filed publicly and without redactions, even though it contained sensitive information about transactions facilitated by the international auction house Sotheby’s.
Plaintiffs hired an art dealer to assist in purchasing a world-class art collection, and the dealer allegedly defrauded them of approximately $1 billion by purchasing the artworks himself and re-selling them to plaintiffs at inflated prices. Plaintiffs claim that Sotheyby’s aided and abetted the fraud. Sotheby’s sought to keep certain portions of the complaint under seal, but Judge Furman held that confidentiality concerns were insufficient because the information at issue went to the very heart of the case:
Continue Reading Judge Furman: Sensitive Pricing Information Can’t Be Sealed Where It Goes to the “Heart of the Litigation”