NEW YORK (Reuters) - 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 Sept. 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 Jan. 13.
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