American Air, Cantor Fitzgerald settle 9/11 suit for $135 million

American Airlines Group Inc and its insurers have agreed to pay $135 million to Cantor Fitzgerald to settle the financial services company’s lawsuit over business and property losses suffered in the September 11 attacks on the World Trade Center, in which 658 of its employees were killed. The settlement, which requires approval from U.S. District Judge Alvin Hellerstein, averts a trial that had been scheduled to begin next month and ends one of the final major pieces of litigation stemming from the 2001 attacks. John Stoviak, a lawyer for Cantor, disclosed the terms of the settlement at a hearing on Tuesday in U.S. District Court in New York before Hellerstein, who will consider approval at a hearing on January 13. Cantor lost nearly two-thirds of its roughly 1,000 local employees after American Airlines Flight 11 struck the World Trade Center’s north tower, where the financial services company had occupied the top floors.

    

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