Cantor Fitzgerald, American Airlines agree to settle 9/11 lawsuit

Dec. 14, 2013 at 12:09 AM
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NEW YORK, Dec. 14 (UPI) -- Cantor Fitzgerald, which lost hundreds of employees in the 2001 terrorist attack in New York, and American Airlines have agreed to a settlement, lawyers said.

Cantor's lawsuit had been scheduled to go to trial next month in U.S. District Court in Manhattan. But Cantor's attorney, John Stoviak, told the judge Thursday the two sides had reached an agreement, the New York Times reported.

U.S. District Judge Alvin Hellerstein has spent more than a decade dealing with litigation over the destruction of the World Trade Center on Sept. 11, 2001. There have been at least 90 settlements.

Cantor Fitzgerald L.P., which had its headquarters on four floors high in the north tower, lost 658 employees, more than any other company or government agency. The company originally sued American for more than $1 billion, an amount later cut by more than half, saying the airline shared responsibility for the hijacking of its plane.

Stoviak did not reveal the terms of the settlement, but they are expected to become public once a final agreement is in place.

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