A major financial technology firm in New York has settled alawsuit against Hartford Insurance stemming from a disputed $59million business interruption claim for the destruction of itsWorld Trade Center office.
The suit was filed by Lava Trading Inc., a developer ofstock-trading software for major investment banks and other WallStreet investors, in the U.S. District Court for the SouthernDistrict of New York.
According to Hartford representatives, the litigation wassettled after the trial judge ruled that testimony from Lava'sdamages expert was inadequate under federal rules of evidence andthus inadmissible.
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