Big Green has gotten a small amount of good news; a U.S. District Judge Ortrie Smith has approved Remington’s Settlement Agreement with the aggrieved Remington 700 trigger class.
As with similar class action lawsuits, the lawyers win big. According to the opinion, the lawyers will get over $12.5 million for their fees with class representatives receiving only $2,500 each. While this may seem excessive for the attorneys, it certainly is compared to what Remington has spent replacing the triggers for owners – only $1.4 million so far for about 22,000 owners.
This brings the total claims rate to less than .29 percent with less than 8 million remaining potentially defective rifles still in circulation.
Still, Remington, the plaintiff’s attorneys, and the Court have agreed that the settlement can proceed. According to the Court, Remington has satisfactorily attempted to reach the members of the class with a specific website, notification across all types of media including radio. TFB has covered this extensively as well.
Fortunately, those who have not participated or filed a claim can still sue Remington individually, but it is likely that the main financial commitment of the “recall” that is not a “recall” is over.