Arthur P. Solomon, former director of the real estate investor group...

Arthur P. Solomon, former director of the real estate investor group at Lazard Freres & Co., and Lazard said they have settled their arbitration by mutual agreement. Neither he nor Lazard would reveal the terms of the settlement. In May, Mr. Solomon filed a complaint with the New York Stock Exchange charging that Lazard had breached its fiduciary duties to him and defamed his character in connection with his departure from the firm. Lazard claimed that Mr. Solomon was asked to leave the firm in the best interests of its investors.