Remington, a gun manufacturer that designed the rifle Sandy Hook Elementary School shooter Adam Lanza used to kill 26 victims in Connecticut in 2012, has agreed to pay a $73 million settlement to victims' families.
The now-bankrupt gun maker, which had initially offered families a $33 million settlement in July, also agreed to allow families to release documents they had obtained over the course of their lawsuit against Remington showing how the manufacturer marketed the AR-15-style rifle on Dec. 14, 2012.
Remington, one of the nation's oldest gun makers founded in 1816, filed for bankruptcy for a second time in 2020 and its assets were later sold off to several companies. The manufacturer was weighed down by lawsuits and retail sales restrictions following the school shooting.
Four insurers for the now-bankrupt company agreed to pay the full amount of coverage available, totaling $73 million, the plaintiffs said
The now-bankrupt gun maker, which had initially offered families a $33 million settlement in July, also agreed to allow families to release documents they had obtained over the course of their lawsuit against Remington showing how the manufacturer marketed the AR-15-style rifle on Dec. 14, 2012.
Remington, one of the nation's oldest gun makers founded in 1816, filed for bankruptcy for a second time in 2020 and its assets were later sold off to several companies. The manufacturer was weighed down by lawsuits and retail sales restrictions following the school shooting.
Four insurers for the now-bankrupt company agreed to pay the full amount of coverage available, totaling $73 million, the plaintiffs said