The Port Authority “exercised lax oversight and virtually no due diligence” in 1986 when it sold the rights to the World Trade Center name to a nonprofit group for $10, State Attorney General Eric Schneiderman said Feb. 13.
“After an investigation that looked back nearly 30 years, we found that the Port Authority sold this association its rights to the ‘World Trade Center’ name for pennies on the dollar,” Mr. Schneiderman said in announcing a settlement with the group, the World Trade Centers Association.
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