SIGforum.com Main Page The Lounge Remington Reaches Historic $33 Million Settlement With Families Of Sandy Hook Victims
Main Page The Lounge Remington Reaches Historic $33 Million Settlement With Families Of Sandy Hook VictimsPage 1 2
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Bad move: This will only encourage more lawsuits against the firearms industry. https://www.zerohedge.com/poli...s-sandy-hook-victims Remington and the families of nine victims from the Sandy Hook school massacre, the second-deadliest school shooting in US history, have reached a settlement that was years in the making: the gun-maker and manufacturer of the Bushmaster AR-15 used by shooter Adam Lanza will pay a total of $33MM. Divided up among the families, that comes to $3.66MM each (before the lawyer's cut). The families insist the money is no substitute for the brutal killing of their loved one. According to Reuters, the settlement must still be approved by the Alabama judge overseeing the Remington bankruptcy case. The plaintiffs allege that Remington's marketing contributed to the shooting. In a February court filing, the plaintiff's legal team argued that the value of their claims could exceed $1 billion, including punitive damage - a pretty obvious negotiating tactic. Only nine families joined the lawsuit, and many joined for political reasons, as the goal is to increase the financial pressure on companies that sell "assault weapons", a label popular among proponents of gun control. 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." The families initially claimed that Remington knowingly marketed the gun for use by people to "carry out offensive, military style combat missions against their perceived enemies." While the families would certainly love to squeeze all the money, Remington has now filed for bankruptcy twice since the shooting, most recently in July 2020, as restrictions on gun sales in some states ate into gun sales. Whether the settlement will ultimately be accepted remains to be seen, though it's pretty lkely given that both parties have reportedly agreed to all the terms. It marks the first legal setback for gun makers in a year where a California judge overturned the Golden State's ban on assault weapons. More at link. _________________________ "Sometimes I wonder whether the world is being run by smart people who are putting us on or by imbeciles who really mean it." Mark Twain | ||
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Info Guru |
Ridiculous. Hope all other manufacturers hang on and are ready for the flood of lawsuits about to be filed. “Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passions, they cannot alter the state of facts and evidence.” - John Adams | |||
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Political Cynic |
Remington just sold us all out | |||
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| Little ray of sunshine  |
So the money isn't all that important, but they will sure as hell still take it. I get it, I am part of that system, and money is the only thing it deals in. But don't claim to be all high and mighty when money is all it is about. And it probably isn't Remington driving this decision, but an insurer. The insurer has a lot of control when it is funding a settlement, which I am pretty sure is the case here. Insurers don't care about politics, they care about limiting exposure and minimizing payouts. The insurers figure this settlement is cheaper than the risk of trying this to a verdict. Now, maybe the insurers are being shortsighted too, because they will expose themselves to additional claims in the future by caving in here. But I bet it isn't Remington funding this deal, or making the final decision. The fish is mute, expressionless. The fish doesn't think because the fish knows everything. | |||
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| Member |
Yes they did. | |||
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| That rug really tied the room together.  |
Don’t negotiate with terrorist!!! Remington (who? Didn’t they go under?) just threw every gun owner and manufacturer in the country under the bus, and then backed up the bus, then went forward again to smash what was left. Every liberal congress critter is soiling their pants in ecstasy at this very moment at the thought of thousands of people filing suits finally putting the nail in the coffin of American gun manufacturers. We have shitty ass gas cans in this country because bottom feeder lawyers decided to suit the gas can companies out of existence because idiots pour gas on camp fires and burn themselves. Put the big gas can company out of business. It’s only a matter of time before lawyers put the gun companies out of business. Lawyers ruin everything. Scum. ______________________________________________________ Often times a very small man can cast a very large shadow | |||
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| Little ray of sunshine |
There sure are some no-reading folks here. Again, I am fairly certain an insurance company is driving this settlement deal - NOT Remington itself. The fish is mute, expressionless. The fish doesn't think because the fish knows everything. | |||
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Member |
So does this mean people can now go after car or liquor manufacturers for drunk drivers who kill people? Does this mean people can now go after cell phone companies for all the distracted drivers that kill or maim people? They just opened a potential flood gate against any company that manufacturers anything that can be used to harm or kill someone. By removing the personal responsibility from the individuals from this point forward, where will it end. The Second Amendment to the United States Constitution. A well regulated militia being necessary to the security of a free state, the right of the people to keep and bear arms shall not be infringed. As ratified by the States and authenticated by Thomas Jefferson, Secretary of State NRA Life Member | |||
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Member |
Dangit, Remington!  God bless America. | |||
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Nullus Anxietas |
That's usually a pretty safe bet. "America is at that awkward stage. It's too late to work within the system,,,, but too early to shoot the bastards." -- Claire Wolfe "If we let things terrify us, life will not be worth living." -- Seneca the Younger, Roman Stoic philosopher | |||
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| Savor the limelight |
They won’t have to pay additional claims if they quit underwriting firearms companies. | |||
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| Member |
Yes, I can read. Please don't be rude. Remington pays the premiums. They have the final say in what happens. | |||
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| Little ray of sunshine |
You are wrong about that. I have settled many cases where an insurer was paying. Lots of them. I have had insurance company reps who wouldn't tell me how much they would pay when I represented their insured, because they want to retain that last little tiny bit of control over a settlement deal by not telling me what the bottom line was. They were afraid I'd spend insurance money they didn't want to pay because my duty is to my client and not to the insurer, even when the insurer is paying my bill. The insured doesn't have the final say. While it isn't fun, read a commercial CGL policy sometime, and you will see that the insurer has control of the settlement at least up to the policy limits. After the limits are reached, the insured has more control over additional settlement amounts, if any. Paying the premiums has got nothing to do with it, the terms of the policy do, and the policy gives control to the insurer. The fish is mute, expressionless. The fish doesn't think because the fish knows everything. | |||
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| Why don’t you fix your little problem and light this candle  |
If the victims were actually out to change the law and make gun companies pay, they would simply have stayed the course and rejected the settlement. 1 billion down to 33 mill? Yeah, no. All the families just did was prove that this was them just trying to get a payday, and not about holding the evil gun company culpable for manufacturing the evil black rifle. We know this, They know this. These families just proved it was a vain attempt to get money off of the tragedy of their loss. Period. No court decision, means no court precedent, means you cant use this to go after another company. Why the settlement was even offered is likely what jhe888 said, insurance or something. I think this actually is a win compared to what it could have been. 33 million was probably well worth it to keep it out of the court and risk a negative judgement. This business will get out of control. It will get out of control and we'll be lucky to live through it. -Rear Admiral (Lower Half) Joshua Painter Played by Senator Fred Thompson | |||
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Shaman |
Now charge EVERY distillery for DUI deaths. And every vehicle manufacturer are liable for their vehicles used as a weapon.  He who fights with monsters might take care lest he thereby become a monster. | |||
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Member |
Remington sold for pennies on the dollar. The settlement is essentially worthless anyway. ------------------------------------- Always the pall bearer, never the corpse. | |||
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| Member |
Correct me if I am wrong but my understanding is that an insured can reject a settlement within the policy limits reached by it's insurer but if it does the insurance company has no further responsibility or liability to the insured for fees costs or any eventual judgment. In other words, the insured is on its own with no coverage for whatever may happen. That is not a risk any insured would be willing to take. Especially in a case like this given the horrific and emotionally charged facts that make it almost impossible to predict the outcome or range of potential liability with any certainty. It all is further complicated bu the fact Remington is in bankruptcy. I am not a bankruptcy attorney, but I think the trustee and the bankruptcy court may hold the authority for that decision, and where their primary objective is to maximize assets for the benefit of creditors the decision is a forgone conclusion. They are not going to roll the dice. This really can't be laid at the feet of Remington the company. | |||
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Member |
If that's true, then they've not only screwed all of us, but they've opened the door wide to being bent over and taking it over and over again in the future. So if you're the insurer, you maybe saved some money on this one case so that you're guaranteed to have to pay out on an ongoing basis from here on out. Insurers aren't the brightest lights in the business world, and this stupidity just proves it once again. This was an asininely stupid decision regardless who made it. ----------------------------- Guns are awesome because they shoot solid lead freedom. Every man should have several guns. And several dogs, because a man with a cat is a woman. Kurt Schlichter | |||
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Member |
I've been in the trucking industry for decades. I can assure you that when we have a claim filed against our insurance, we have zero, none, nada, say as to the settlement. The insurance carrier offers a settlement, even when we are not at fault. If it is accepted, but we object, the insurance carrier says we're welcome to obtain counsel and settle it ourselves in court, on our own. Oh, and if we don't like it, we're welcome to obtain our future insurance needs elsewhere. In the meantime, we can expect higher premiums because our loss ratio has increased. In the world of commercial insurance, the insured is not a party to the discussion. The insurance carrier's motivation is to reduce their exposure, period. They don't give a rat's ass about who is actually responsible. Demand not that events should happen as you wish; but wish them to happen as they do happen, and you will go on well. -Epictetus | |||
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SIGforum.com Main Page The Lounge Remington Reaches Historic $33 Million Settlement With Families Of Sandy Hook Victims
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