Remington settlement approved despite concerns with low claims rate

By Daniel Terrill

Despite concerns over low participation in a product recall, a federal judge approved a settlement agreement for a class action suit against Remington Arms for manufacturing millions of rifles tied to a deadly defect.
The public saw in the case a chance for retribution for the millions of Remington rifles equipped with a trigger design linked to numerous deaths and injuries.
The iconic gun maker will payout more than $12.5 million, according to the opinion signed by U.S. District Judge Ortrie Smith.
That final tally breaks down into $12.5 million for attorneys representing the class, but they must subtract $474,893 for costs and expenses by the plaintiffs. And then each class representative will receive $2,500.
Costs to retrofit the firearms with a new trigger could be considerably larger because of the more than 7.5 million rifles in circulation. Initial estimates — devised by the number of models multiplied by the cost to retrofit — put the total possible cost at $488 million.
However, Smith reiterated his concern with the low number of claims. In the two years after entering settlement negotiations, only 22,000 owners filed claims.
Nine state attorneys general filed a brief in January saying that the low number of claims will do little to prevent future accidents.

Source: Guns.com