"I endorse and am contributing to these settlements tofacilitate the resolution of all matters and to minimize the impacton Sotheby's, a company I care about deeply," Taubman said.

"Our goal over the last several months has been to put behind usthe litigation clouding Sotheby's future. The settlements we haveapproved today resolve the lawsuits in which the company had thegreatest potential financial exposure," sysd Michael Sovern,chairman of the board of Sotheby's Holdings.

The claims were that while Taubman was chairman, the companycollaborated with Christie's auction house to fix prices. Thisaction drove down the company's stock, claimedshareholders.Taubman, who lives in Bloomfield Hills, MI, foundedTaubman Centers Inc., one of the world's largest mall developingcompanies. The company recently earned the contract to increaseretail interest in the Renaissance Center in Detroit.