Cantor Fitzgerald and American Airlines 9/11 Suit Settled for $135M

by Michael P. Lewis on December 17, 2013

On December 17, 2013, Cantor Fitzgerald & Co. reached a $135 million settlement with American Airlines Inc. and its insurers to end the final airline-centered case stemming from the 2001 attacks on the World Trade Center.  Cantor brought an action against American Airlines after hijackers flew American Airlines Flight 11 into Tower One of the World Trade Center, killing 658 of Cantor’s employees and destroying their offices.

In January 2011, the United States District Court for the Southern District of New York rejected Cantor’s damages theory, stating “the brokerage firm cannot hold American Airlines responsible for economic damages associated with its employees’ deaths.”  The case was scheduled for trial in January 2014.

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