The resolution of the shareholder complaint comes days ahead of Lutnick’s confirmation hearing for Commerce Secretary.

Newmark shareholders had alleged in a lawsuit that Lutnick didn't boost the company's value following its IPO and didn't deserve a $50M bonus.

Howard Lutnick, the wealthy Wall Street executive whom President Trump has tapped to lead the Department of Commerce, detailed a complex network of financial holdings on Friday as he prepared to face scrutiny from lawmakers during a confirmation hearing next week.

FILE PHOTO: U.S. Commerce Secretary nominee Howard Lutnick speaks inside the Capital One arena on the inauguration day of Donald Trump's second presidential term, in Washington, U.S., January 20, 2025. REUTERS/Mike Segar/File Photo

Lutnick is stepping down as head of investment bank Cantor Fitzgerald as he prepares to head the Commerce Department.

Howard Lutnick, President Donald Trump's nominee to lead the Commerce Department, on Friday disclosed his financial holdings and assets ahead of a Senate hearing to confirm him for the role. The Wall Street CEO earned nearly $200 million through financial services company Cantor Fitzgerald.

Cantor Fitzgerald LP Chief Executive Officer Howard Lutnick settled a lawsuit over his $50 million bonus tied to Newmark Group Inc. days before he is set to appear in front of the US Senate for a confirmation hearing to run the Commerce Department.

Tether has undeniably played a pivotal role in bridging traditional finance with the digital currency world. However, its associations with illicit activities and concerns about transparency may pose systemic risks.

President Trump’s pick for commerce secretary Howard Lutnick detailed Monday how Trump will use his “external revenue service” and the administration’s approach with tariffs. Lutnick said at a Washing

A slate of President Trump’s Cabinet nominees have appeared before senators in recent days for key hearings on their road to confirmation. Sen. Marco Rubio (R-Fla.) was the first to be confirmed,

Howard Lutnick, President Donald Trump’s nominee to lead the Commerce Department, detailed his wealth and influence across hundreds of firms and left open the possibility of his adult children buying his holdings if he wins confirmation.

I will do everything I can to oppose those who try to make those things forgotten and who capitalize on the Nazi sentiments still prevalent in our societies. The Austrian and German societies should actually be proud that they finally managed—however incompletely and flawed—to engage with this dark past in a serious way.