By Tom Knighton
Remington has had a bit of a rough year, but that is starting to all be behind them. Not just the bankruptcy, but also a lawsuit settlement that was apparently insufficient for some people.
Of course, it doesn’t matter what those folks think of it now. All that mattered was what an appeals court thought of it, and that worked out well for Remington.
A federal appellate court upheld a settlement agreement between Remington Arms and class representatives despite concerns that too few gun owners participated in an effort to recall an allegedly defective Remington trigger design.
“The record makes plain that the settlement agreement was reached following meaningful discovery and investigation by class counsel and arm’s length negotiations between the parties,” the three-judge panel said in their opinion. “We conclude that the settlement was fair, reasonable, and adequate, and we affirm the district court’s order approving the settlement.”
The challenge targeted a Missouri federal court’s approval of the settlement in which Remington agreed to pay $2,500 to each class representative, $12.5 million in attorney’s fees and $474,892.75 in expenses.
While the lead groups involved found the agreement satisfactory, some representatives argued the payout should have been more …Read the Rest
Source:: Bearing Arms