The jury decided Taubman, 76, had arranged to fix prices withAnthony J. Tennant, a member of the board of directors ofChristie's auction house, from 1993 to 1999 in violation of thefederal Sherman Act. Taubman could face up to three years in jailand a $350,000 fine at his April 2 sentencing.

Sotheby's and Christie's International are the two largestauction houses in the world.Taubman is founder of Taubman CentersInc. which owns and/or manages 28 urban and suburban regional andsuper regional shopping centers in 12 states. His son, RobertTaubman, is president and CEO of the company.

"We are all shocked and saddened," Karen MacDonald, TaubmanCenters' Director of Communications, says in a prepared statement."Our thoughts are with Mr. Taubman and his family at thistime."

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.