NEW YORK (Reuters) - A federal judge on Monday approved a $135 million settlement between American Airlines Group Inc and Cantor Fitzgerald over business and property losses suffered by the financial services company in the Sept. 11 attacks on the World Trade Center, in which 658 of Cantor's employees were killed.
U.S. District Judge Alvin Hellerstein said the agreement, which averts a trial that had been scheduled to begin this month, was "fair and reasonable" at a brief court hearing.
Under the settlement, American's insurers will pay Cantor $135 million, minus approximately $2.5 million from two insurers that are insolvent and cannot cover their share.
The settlement ends one of the last remaining pieces of litigation stemming from the 2001 attacks, which killed nearly 3,000 people.
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