American Airlines and Cantor Fitzgerald settle 9-11 lawsuit

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On Tuesday, Cantor Fitzgerald, a New York brokerage firm, announced that it has settled on a $135 million deal with American Airlines. The firm was seeking $1 billion in damages from American Airlines, claiming that the airline was negligent as it failed to catch the hijackers of the plane on 9-11. Cantor Fitzgerald also argued that the business suffered losses and severe damage to its office and other corporate property.

“For the insurance companies, this was just another case, just another settlement, but not for us,” Howard W. Lutnick, Cantor Fitzgerald’s chairman and CEO, said in a statement. “We could never, and will never, consider it ordinary. For us, there is no way to describe this compromise with inapt words like ordinary, fair or reasonable. All we can say is that the legal formality of this matter is over.”

The firm also lost 658 employees when the plane crashed into its offices in the World Trade Center.

“American Airlines and the courageous crew members and passengers on Flight 77 and Flight 11 were all victims of the terrorist attacks of September 11, 2001. American has vigorously defended itself in litigation brought against it by property owners and their insurers who allege that American should have done what the government could not do: prevent the terrorist attacks,” American Airlines said in a statement.

 




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