Remington offers $33m to settle lawsuit by families of Sandy Hook massacre

Families brought the case to demonstrate to banks and insurers that gun manufacturers are a risky business

The manufacturer of an assault rifle used to kill 20 schoolchildren and six adults in the 2012 Sandy Hook massacre has offered $33m to settle lawsuits from the families of nine of the victims.

If accepted, the proposal by Remington would mean each of the families would receive $3.66m, substantially less than the sums they were seeking. In a February court filing, lawyers estimated the wrongful death claims likely totalled in excess of $225m, rising above $1bn with punitive damages.