Art Collector, Gallery Broke Pact Over Rothko Work, Jury Finds

Law360, Los Angeles (December 20, 2013, 9:03 PM EST) -- A Dallas federal jury on Friday found that an art collector and art gallery breached their contract over the purchase of a prominent Mark Rothko oil painting by indirectly revealing the painting’s former owner, but awarded far less than the tens of millions sought.

The verdict found that collector David Martinez and his company Studio Capital broke a secrecy agreement with Marguerite Hoffman, signed when they bought her untitled 1961 Rothko painting referred to as Red Rothko. L&M Arts, a gallery which helped broker the deal,...
To view the full article, register now.




Case Information

Case Title

Hoffman v. Martinez et al

Case Number



Texas Northern

Nature of Suit

Contract: Other Contract


Sidney A Fitzwater

Date Filed

May 11, 2010

Law Firms

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.