22 Sept 2011 Cases

Cantor Fitzgerald v. Port Authority of New York and New Jersey

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Cantor Fitzgerald, a financial services company that had offices in the World Trade Center, claimed that it suffered nearly $500 million in business interruption damages, due to the February 1993 terrorist bombing of the building, for which the Port Authority was the landlord. Compass Lexecon was retained by Richard Rothman and Salvatore Romanello at Weil, Gotshal & Manges LLP to evaluate the damages claim. Compass Lexecon’s President, Professor Daniel R. Fischel, filed an expert disclosure that involved trade-by-trade analysis of Cantor’s revenues and showing that Cantor’s actual damages due to the bombing were actually less than $4 million. The Port Authority ultimately prevailed on liability and concluded the case successfully. Professor Fischel was supported by a team of economists in Compass Lexecon’s Chicago office, including Hal Sider, Dzmitry Asinski, and Todd Kendall.

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