Cantor’s Lutnick Wins Appeal in $875 Million Deal Challenge Case

Cantor Fitzgerald LP‘s billionaire chairman, Howard Lutnick, won an appeal Thursday ending investor litigation in Delaware over the $875 million sale of a real estate lender from a Cantor unit to another company he controlled.

The state’s top court ruled for Lutnick, rejecting self-dealing claims challenging the acquisition of Berkeley Point Financial LLC by BGC Partners Inc., which spun off from Cantor in 2004. The decision upheld a ruling by a Delaware Chancery Court judge who cleared Lutnick of wrongdoing last year.

The lawsuit, filed in 2018, accused Lutnick of wielding his influence over BGC’s board to push a ...