A U.S. gun manufacturer has proposed a settlement for the families of the 2012 Sandy Hook Massacre victims.
Remington, the country’s oldest gun maker, offered the proposal as part of a bankruptcy hearing for the company and as a response to a pending lawsuit from some of the victims’ families.
The proposal still needs the approval of a judge in Alabama who oversees the gun makers’ bankruptcy case.
Through the proposed settlement, each of the 9 families involved in the lawsuit would receive $3.66 million.
The offer pales in comparison to what the families were initially seeking. In February, the victims’ families argued that the wrongful death settlements should total $255 Million with an additional claim of more than $1 Billion for total punitive damages.
An attorney representing the victims’ families said they would “consider their next steps.”
“Since this case was filed in 2014, the families’ focus has been on preventing the next Sandy Hook,” attorney Josh 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,” he added.
