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Remington agrees to $73 million settlement with families of Sandy Hook shooting victims


Shooting at the Sandy Hook Elementary School, Heart and Cross Memorial near the Sandy Hook Fire Station on Riverside Road in Sandy Hook, CT.

Enid Alvarez | NY Daily News | Getty Images

The families of some of the adults and children killed in the 2012 mass shooting at Sandy Hook Elementary School on Tuesday reached a $73 million settlement with Remington, the maker of the AR-15 rifle used in the massacre.

On December 14, 2012, 20-year-old Adam Lanza broke into Newtown, Connecticut, elementary school and, wielding a Remington Bushmaster semi-automatic rifle, killed 20 students and six adults in less than five minutes.

Nine families of victims filed a lawsuit in 2014, alleging that Remington bore some responsibility for the massacre through its marketing of the weapons. Remington had offered to settle for nearly $33 million last summer.

An attorney for the defendants did not immediately respond to CNBC’s request for comment on Tuesday’s settlement.

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