Judge tells WTC firm to curb terror damage request
Headline News
A financial firm that lost more than 650 employees in the Sept. 11 terror attacks must reduce its demands that an airline pay it nearly $1 billion, a judge ruled Wednesday.
U.S. District Judge Alvin Hellerstein made the ruling regarding Cantor Fitzgerald after the company estimated it suffered $1 billion in lost profits because of the deaths of two-thirds of its work force at the World Trade Center.
The judge said Cantor Fitzgerald cannot base its estimate for damages on lost profits resulting from employees who died. He noted that the company had originally put losses at $102 million but raised them in 2009 to $1 billion before reducing them last year to $963 million.
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New York Commercial Litigation Law Firm - Woods Lonergan PLLC
Founded in 1993 by Managing Partner James F. Woods, Woods Lonergan PLLC has built a strong reputation as a resourceful and industrious firm that provides clients with clear, concise, and straightforward answers to their most challenging legal issues. Partner Lawrence R. Lonergan, who joined the firm in 2008, has been a friend and colleague to Mr. Woods for over 40 years and shares the same business philosophy. Woods Lonergan PLLC’s collective experience and expertise enables the firm to expeditiously and effectively analyze the increasing challenges clients face in an evolving business and legal world, in many instances, avoiding unnecessary time and expense to our clients. Our mission is simple: provide cutting-edge expertise and sound advice in select areas of the law for corporate and business clients. We thrive on providing each client with personalized attention, forceful representation, and a collaborative team effort that embraces collective knowledge.