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Cantor Fitzgerald can't consider 9/11 deaths lost profit

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Cantor Fitzgerald must reduce its nearly $1 billion claim against American Airlines for lost profits as a result of the deaths of the security firm’s 658 employees during the World Trade Center attacks, a federal judge in Manhattan ruled yesterday.

U.S. District Judge Hellerstein determined that Cantor Fitzgerald, which had leased the top five floors of one of the trade center towers, could not consider its workers’ deaths as lost profits.

Instead, such claims, “are considered wrongful-death causes of action,” and the company has no standing to demand such damages, Hellerstein said. Wrongful death cases are typically filed by relatives and loved ones.

However, Cantor Fitzgerald may proceed in its suit for the destruction of its offices, furnishings and infrastructure, said the judge, who set a Feb. 28 deadline to amend the $945 million claim against the airline for failing to adequately screen passengers and prevent the terrorist attack.

The company had originally estimated its losses at $102 million.

 

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