A major financial technology firm in New York has settled a lawsuit against Hartford Insurance stemming from a disputed $59 million business interruption claim for the destruction of its World Trade Center office.
The suit was filed by Lava Trading Inc., a developer of stock-trading software for major investment banks and other Wall Street investors, in the U.S. District Court for the Southern District of New York.
According to Hartford representatives, the litigation was settled after the trial judge ruled that testimony from Lava's damages expert was inadequate under federal rules of evidence and thus inadmissible.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
