Turning aside objections from gun owners, legal experts and nine state attorneys general, a federal judge has given final approval to a landmark class action settlement involving some 7.5 million allegedly defective Remington guns.
The ruling allows the owners of some of Remington's most popular firearms — including the iconic Model 700 rifle — to have their triggers replaced free of charge.
In 2010, CNBC investigated allegations that for decades Remington covered up a deadly design defect that allows the guns to fire without the trigger being pulled. To this day, Remington denies the allegations and maintains the guns are safe. The company said it was settling the case to avoid protracted litigation.
Critics of the settlement alleged Remington deliberately downplayed the risks in order to suppress claims in the settlement, and that plaintiffs attorneys — who will now collect $12.5 million in fees — did not do enough to hold Remington's feet to the fire.
The attorneys general argued that Remington should be required to admit the guns are defective.