Remington offers $33 million to families of Sandy Hook school shooting victims By Reuters
© Reuters. FILE PHOTO: A Bushmaster Firearms LLC, AR-15 rifle that was found at Sandy Hook Elementary School in Newtown, Connecticut, is pictured in this evidence photo released by the Connecticut State Police, U.S. on December 27, 2013. Courtesy Connecticut State Police/Handout via REUTERS
By Tom Hals and Jonathan Stempel
(Reuters) -Remington Arms Co on Tuesday offered to pay nearly $33 million to nine families to settle lawsuits claiming that its marketing of firearms contributed to the 2012 Sandy Hook school massacre in Newtown, Connecticut, where 26 people died.
The proposed settlements would provide $3.66 million to relatives of each victim, subject to approval by the federal judge overseeing Remington’s bankruptcy case in Alabama.
Remington’s proposed payout is only a small fraction of the damages that the nine families claimed to have suffered.
In a February court filing, their lawyers estimated that wrongful death claims likely totaled more than $225 million, and total claims including punitive damages could exceed $1 billion.
Josh Koskoff, one of the families’ lawyers, on Tuesday said his clients would “consider their next steps” in response to the offer from Huntsville, Alabama-based Remington.
“Since this case was filed in 2014, the families’ focus has been on preventing the next Sandy Hook,” Koskoff said in a statement. “An important part of that goal has been showing banks and insurers that companies that sell assault weapons to civilians are fraught with financial risk.”
Twenty students and six adults were killed on Dec. 14, 2012, by gunman Adam Lanza, who used a Remington Bushmaster rifle as he shot his way into the Sandy Hook Elementary School after shooting his mother to death at home.
The massacre ended when Lanza committed suicide as he heard police sirens approach.
Only nine families of the deceased children sued Remington. The company disclosed the proposed settlements in filings with the Connecticut Superior Court in Waterbury.
Remington had filed for Chapter 11 protection in 2018 and emerged the same year under the control of its creditors.
It filed for bankruptcy again in July 2020, after more retailers restricted gun sales following other school shootings.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Israeli study shows 4th shot of COVID-19 vaccine not able to block Omicron By Reuters
© Reuters. 93-year-old Shari Marco receives a fourth dose of the coronavirus disease (COVID-19) vaccine following a vaccination party after…
Stock Up Deals on Snacks & Beverages from Quaker, Gatorade, Rockstar, and more!
Home » Uncategorized » Stock Up Deals on Snacks & Beverages from Quaker, Gatorade, Rockstar, and more! Published: by Gretchen…