Remington Outdoor Company's Insurance to Pay $73 Million in Sandy Hook Settlement
A settlement has been reached following the 2015 lawsuit against Remington Outdoor Company brought forward by the families of five children and four adults that were killed in the 2012 Sandy Hook Elementary School shooting.
A $73 million settlement was reached by Remington's four insurance companies seven years after the families filed a wrongful-death lawsuit, alleging that Remington should be held partially responsible for the shooting because of its marketing strategy.
Last summer Remington's insurance companies offered nearly $33 million to the families, but no agreement was reached. The $73 million settled on now is all the available coverage that the insurance companies could pay. The settlement is the largest and first of its kind since the 2005 federal law that provided gun makers with broad protection from the liability in the unlawful use of their weapons. The money will be divided evenly among the nine families.
In the lawsuit, the families argued that Remington negligently entrusted to civilian consumers a weapon suitable for use only by military and law enforcement. The suit also claimed that the company’s advertising and placement in violent video games glorified violence using the rifle, thus violating the Connecticut Unfair Trade Practices Act through the sale or wrongful marketing of the rifle.
Remington argued that there was no evidence that their marketing and advertising had anything to do with the shooting. However, the Connecticut Supreme Court disagreed, ruling that the company could be sued for the marketing of their AR-style rifles.
It is thought this settlement could pave the way for similar lawsuits seeking to hold gun companies accountable for mass shootings. The NSSF released the following statement regarding the settlement:
|
TriStar Arms Expands Again
For the third time in seven years, TriStar Arms has expanded its footprint.
This expansion brings the total square footage at their facility to 11,500 square feet. TriStar says it will increase efficiency by an estimated 30% and demonstrates their commitment to value. The increases efficiency will help keep final costs to consumers down and get more products on the shelves of retailers.
|
The expansion will mostly be in the form of more warehouse space to accelerate receiving, quality control and shipping operations.
Sellmark Recognized for Innovation
The Edison Awards, established by the American Marketing Association to recognize new products, services, marketing, innovation and design chose the Sellmark Corporation as this year’s recipient.
Sellmark is known for its sell-marketing strategy since its establishment in 2000, the company was formed to fill gaps in the optics industry. Currently, Sellmark engineers are consistently working on new ways to enhance product life, durability and technological capabilities all while reducing price points.
“Continuous innovation is vital to the success of Sellmark,” says James Sellers, president of Sellmark. “Our Director of Engineering, Jonathan Horton, consistently challenges his team to find the best materials, engineering procedures and quality-assurance checks to set an exceptional standard for Sellmark products.”
The company is located in Mansfield, Texas, and the Mansfield Area Chamber of Commerce president and CEO, Lori Williams says Sellmark was selected for their continuous focus on innovation, specifically for ‘seizing opportunities’ that propel them into the future.