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, Reuters reported. 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. 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.
