Heated Lawsuit Between Cy Twombly Foundation Directors Reaches Settlement

The legal battle between the four directors of the Cy Twombly Foundation has been settled in Delaware court. The suit was filed in March 2013 by the foundation’s president and vice president, Twombly’s companion Nicola Del Roscio, and curator and Twombly expert Julie Sylvester. The defendants were the foundation’s other directors, art-world lawyer Ralph E. Lerner and financial adviser Thomas H. Saliba.

The two men were accused of attempting to raise the appraisal value of the estate’s Twombly artwork, so as to receive higher commissions during sales. They also allegedly charged the foundation fraudulent fees of up to US $750,000 for their services. Twombly died in 2011.

The terms of the settlement are confidential, but both Lerner and Saliba are resigning from the foundation, leaving Del Roscio and Sylvester as controlling directors. Lerner has dropped a related counter-suit.

Follow Artnet News on Facebook:

Want to stay ahead of the art world? Subscribe to our newsletter to get the breaking news, eye-opening interviews, and incisive critical takes that drive the conversation forward.


Subscribe or log in to read the rest of this content.

You are currently logged into this Artnet News Pro account on another device. Please log off from any other devices, and then reload this page continue. To find out if you are eligible for an Artnet News Pro group subscription, please contact [email protected]. Standard subscriptions can be purchased on the subscription page.

Log In