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December 17, 2013

American to pay Cantor Fitzgerald $135 million to settle lawsuit related to 9/11 terrorist attacks

Investment firm Cantor Fitzgerald will receive $135 million from American Airlines as part of a settlement in a lawsuit related to the terrorist attacks on September 11.

The firm had sued the airline in 2004 saying that American had failed to stop the hijackers who crashed an American Airlines aircraft into the north tower of the World Trade Center where Cantor Fitzgerald had its offices. The firm lost 658 employees in the attack.

“For us, there is no way to describe this compromise with inapt words like ordinary, fair or reasonable,” Cantor Chief Executive Officer Howard Lutnick told Bloomberg News in an e-mailed statement. “All we can say is that the legal formality of this matter is over.”

American said its insurers have agreed to settle the claims. The company issued this statement:

"American Airlines and the courageous crew members and passengers on Flight 77 and Flight 11 were all victims of the terrorist attacks of Sept. 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. Our insurers have agreed to settle the claims by Cantor Fitzgerald. Although this settlement ends these particular legal disputes, American will forever honor the memory of the true victims and selfless heroes of 9/11."

-Andrea Ahles

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Comments

John James

There are actually NO words to describe the gall of this investment firm. I could try, but the chances of the comments getting posted are slim to none! I will say this, however. Saying American should have stopped the hi-jackers is like saying Cantor Fitzgerald should have stopped the subprime mortgage crisis in 2008. This outfit has a pair the size of church bells. It's appalling. It really is!

whitey

no matter what this firm has done they lost over 600 employees because American chose the cheap way out and payed low wages for a contract company.so yes American is very lucky this is all they have to pay on this settlement.all these deaths because of a cheap a== airline and its tactics.if it was left up to me I would have sued for billions and rejected the cheap settlement.american thinks they are the only ones that lost love ones. what a disgrace to the other families!

John James

You keep telling yourself that, Whitey, you keep telling yourself that. And thank God it's not left up to you because every airline would be broke because of every crash that has ever happened for no matter what reason. It's always the cheap a== airlines' fault, right? I'm curious. Are you ex-TWA?

life realist

...could agree more with what Whitey wrote,
and it continues to happen with out sourced cheap aircraft maintenance.

whitey

and john james. are you a cubical flunky at AA hdq?

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