Families of Sandy Hook victims reach $73 million settlement with Remington
The elementary school shooting left 20 students and six adults dead. The settlement is thought to be first of its kind, awarding major damages against a U.S. gun manufacturer based on a mass shooting.
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I wasn't aware that Remington went bankrupt in 2020. The 73M comes from their insurers.
Thousands of pages of internal Remington company documents can also now be made public, according to Koskoff's law firm.
"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," Koskoff said. "For the gun industry, it's time to stop recklessly marketing all guns to all people for all uses and instead ask how marketing can lower risk rather than court it. For the insurance and banking industries, it's time to recognize the financial cost of underwriting companies that elevate profit by escalating risk. Our hope is that this victory will be the first boulder in the avalanche that forces that change."