Topline
Remington Arms agreed Tuesday to pay $73 million to the families of nine victims killed at Sandy Hook Elementary School in 2012, according to multiple reports, as part of a settlement that ends a years-long legal battle with the gun manufacturer.
Key Facts
A Bushmaster AR-15-style rifle, made by Remington, was used in the 2012 massacre that left 20 first-graders and 6 school employees dead.
The reported $73 million settlement is more than double a $33 million offer Remington proposed in July.
Remington did not immediately respond to a request for comment from Forbes.
Key Background
The lawsuit was filed in 2014 and argued Remington was liable for the victims’ deaths based on how it marketed the weapon, claiming the company targeted at-risk young men in part through placing ads in violent video games, violating a Connecticut law prohibiting deceptive marketing practices. Adam Lanza, a 20-year-old former Sandy Hook student who had a history of developmental and mental health issues, used the Remington-made rifle to kill his mother and carry out the massacre at the school on December 14, 2012, before killing himself with a handgun. Remington tried to have the suit dismissed by citing a federal law that largely protects the gun industry from liability, but the Connecticut Supreme Court ruled the company could still be sued in state court. The U.S. Supreme Court declined to take up Remington’s appeal of the decision.
Surprising Fact
Remington filed for bankruptcy in July 2020, selling off all of its assets to raise around $155 million to pay off debts.
Crucial Quote
"This victory should serve as a wake-up call not only to the gun industry, but also the insurance and banking companies that prop it up," plaintiffs’ attorney Josh Koskoff said Tuesday.
Further Reading
Sandy Hook families settle for $73M with gun maker Remington (Associated Press)
Gun-Maker Offers Sandy Hook Families $33 Million. Here's What They May Be Considering (NPR)
Remington Gun-Maker Files For Bankruptcy Protection For 2nd Time Since 2018 (NPR)
