Under orders of a federal judge, Remington Arms is reminding owners of certain kinds of Remington rifles that a settlement has been reached.
On Thursday, Republican Rep. Richard Hanna filed the resolution, which reads like a brief history lesson on the iconic gun company founded in upstate New York in 1816.
The Connecticut judge presiding over the case between Sandy Hook shooting victims and Remington Arms issued an order maintaining a pre-scheduled timeline for summary judgment after Remington filed 14 months early.
The two major gun companies sued Massachusetts’ Attorney General Maura Healy over her probe into alleged defects of their products.
Massachusetts based Smith & Wesson reorganized its outdoor products and accessories division in response to weakening first quarter gear sales.
Smith & Wesson reported a 40 percent increase in sales in its first quarter, including a spike in handgun sales by more than $38 million.
The plaintiff was invoiced by Remington’s attorney at the end of the case over an alleged defect that caused his gunshot wound.
Remington Arms has been slow out the gate at producing handguns, but senior managers told investors last week that they’ve been eyeing the pistol market.
A $1 billion offer for Remington in 2014 turned out to be part of a series of misleading statements to federal regulators to inflate the ability of a little known Florida company.
Despite a $4.6 million loss in its second quarter, Remington Outdoor Company reported higher earnings and profit halfway through the year.