Sandy Hook Elementary School shooting, heart and cross memorial near Sandy Hook Firehouse 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 reached a $73 million settlement Tuesday with Remington, the manufacturer of the AR-15 rifle used in the massacre.
The settlement agreement also allows the families to make public thousands of pages of “internal company documents that prove Remington’s wrongdoing,” attorneys for the plaintiffs said in a press release.
“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,” said the families’ attorney, Josh Koskoff, in the release.
On Dec. 14, 2012, 20-year-old Adam Lanza broke into the elementary school in Newtown, Connecticut, and, wielding a Remington Bushmaster semiautomatic rifle, killed 20 students and six adults in less than five minutes.
Nine victims’ families sued in 2014, alleging 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.
This is developing news. Please check back for updates.
