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Tuesday, October 7, 2014

Fallen Class-Action Lawyer Mel Weiss to Sell Picasso Works | Initiative Legal Group

The below article is by   from bloomberg.com. It reads...

Melvyn Weiss, the millionaire class-action attorney who was felled by illegal kickbacks, is selling more than 140 lithographs, etchings and other works of art by Pablo Picasso.
Weiss and his wife, Barbara, have pledged the artwork to the financial services unit of New York-based Sotheby’s, according to a Sept. 23 New York state regulatory filing. Barbara Weiss, in an interview last week, said the couple planned to put the art up for auction. She declined to comment further.
Collecting Picassos was such a passion for Weiss, 79, that the pursuit played a role in the 2007 criminal case that federal prosecutors brought against him and other founders of Milberg Weiss Bershad Hynes & Lerach LLP, once the nation’s largest class-action securities law firm. The artwork he’s now selling ranges from 23-carat gold figures to a linoleum cut titled “Grand Tete de Femme,” the first of many Picassos acquired by the former litigator.
Weiss declined to comment when reached by telephone, saying the sale is a “personal matter.” Mary Bartow, the head of Sotheby’s prints department, said the auction house doesn’t comment on or identify specific consignors.
Source: HERE

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