Cantor Fitzgerald Settles With American Airlines Over 9/11

Friday, 13 Dec 2013 04:10 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

Cantor Fitzgerald LP settled a lawsuit accusing American Airlines of failing to stop the hijacking of a plane that crashed into the World Trade Center on Sept. 11, 2001, killing 658 of the firm’s employees.

U.S. District Judge Alvin K. Hellerstein in Manhattan was told of the agreement at a hearing today, according to court records. Hellerstein scheduled a Jan. 13 hearing to consider approving the accord.

The settlement of the lawsuit, filed almost 10 years ago, comes four days after American’s parent, Fort Worth, Texas-based AMR Corp., completed a merger with US Airways Group Inc. to form American Airlines Group Inc.

The al-Qaeda terrorists flew the American Airlines jet into one of the twin towers and a United Airlines jet into the other, causing both buildings to burn and collapse. Two other planes were hijacked, one that hit the Pentagon near Washington and another that crashed in a field in Pennsylvania after passengers fought the terrorists. About 3,000 people died.

Cantor alleged American should have stopped five Islamic extremists who took over its Flight 11 from Logan International Airport in Boston and crashed it into the North Tower.

 

In its lawsuit filed in September 2004, the New York-based based global financial services firm sought $945 million. A 2011 ruling in the airline’s favor limited Cantor to seeking damages for business interruption and barred it from seeking damages for the deaths of its employees.

In a related negligence lawsuit, Hellerstein ruled in July that real estate developer Larry Silverstein, who leased the skyscrapers about two months before they were destroyed, can’t seek $3.5 billion from AMR or United Continental Holdings Inc. Silverstein had already collected $4.1 billion from insurers and can’t collect twice under New York law, the judge ruled.

Robert Hubbell, a spokesman for Cantor, declined to comment on the settlement because the matter is still active in court.

© Copyright 2014 Bloomberg News. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Democratic Pollsters: Obama Hurting Hillary's Chances

Sunday, 23 Nov 2014 21:52 PM

Two Democratic Party pollsters say President Barack Obama is hurting Hillary Clinton's presidential chances in 2016. . . .

Important Medicare Changes for 2015: What You Need to Know

Sunday, 23 Nov 2014 21:13 PM

Millions of seniors will have to dig deeper to pay for their Medicare benefits next year, thanks to rising costs for hea . . .

Report: Israel Considering Military Action Against Iran

Sunday, 23 Nov 2014 19:53 PM

As the deadline for nuclear talks between the P5+1 powers and Iran looms on Monday, Israel is warning it might use milit . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved