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CNBC’s Scott Cohn: Judge in Remington Case Postpones Landmark Legal Settlement

VIDEO LINK: http://video.cnbc.com/gallery/?video=3000464154

MELISSA LEE: WELCOME BACK TO "POWER LUNCH" I'M MELISSA LEE. A FEDERAL JUDGE JUST POSTPONED FINAL APPROVAL OF A NATIONWIDE CLASS ACTION SETTLE. IN WHICH THE REMINGTON ARMS COMPANY HAD AGREED TO REPLACE THE TRIGERS IN SOME SEVEN MILLION GUNS THAT CNBC INVESTIGATED 2010 DOCUMENTARY. THE SURPRISE RULING COMES JUST HOURS AFTER CNBC REVEALED A NEW CACHE OF DOCUMENTS SHOWING WHAT REMINGTON KNEW ABOUT THE POPULAR MODEL 700 RIFLES, WHICH THE COMPANY STILL MAINTAINS ARE SAFE. SCOTT COHN'S NEW INVESTIGATION IS ON CNBC.COM RIGHT NOW. HE'S HERE TO TELL US ALL ABOUT THIS NEW DEVELOPMENT. SCOTT WHAT A GREAT STORY.

SCOTT COHN: WELL, IT KEEPS ON CHANGING MELISSA. THE JUDGE, ORTRIE SMITH IN MISSOURI IS CONCERNED BECAUSE SINCE THE SETTLEMENT OFFER BECAME PUBLIC IN MAY AND UNTIL AUGUST, ONLY A COUPLE THOUSAND OWNERS FILED CLAIMS OUT OF SOME 7.5 MILLION GUNS. THE JUDGE SAID HE CAN'T CONCEIVE WHY OWNERS WOULD NOT WANT TO GET THEIR TRIGGERS REPLACED, AND HE'S ORDERED THE PARTIES TO COME UP WITH A BETTER PLAN TO NOTIFY THE PUBLIC. THE GUNS ALLEGEDLY CAN FIRE WITHOUT THE TRIGGER BEING PULLED, LEADING TO INJURIES AND EVEN DEATHS--THOUGH THE COMPANY DENIES THIS. ALL OF THIS AS WE REVEAL THE DOCUMENTS THAT HAD BEEN SEALED BY COURT ORDER UNTIL NOW. THEY'RE IN THE HANDS OF RICH BARBER, WHOM WE MET FIVE YEARS AGO. HE'S THE MONTANA MAN WHOSE 9-YEAR-OLD SON GUS DIED IN 2000 WHEN ONE OF THE GUNS WENT OFF.

ON TAPE:

COHN: HOW MANY DOCUMENTS ARE THERE?

RICH BARBER: MY BEST GUESSTIMATE, IT'S IN THE MILLIONS. I HAVE NO IDEA. ALL I KNOW IS THAT I TOOK THE TIME TO READ THEM PAGE BY PAGE AND PUT THE PIECES OF A PUZZLE TOGETHER CHRONOLOGICALLY AND TOPIC SPECIFIC.

COHN: THERE ARE HANDWRITTEN NOTES FROM REMINGTON ENGINEERS WRESTLING WITH THE PROBLEM OF FSR. REMINGTON'S INTERNAL TERM FOR GUNS FIRING WHEN THE SAFETY IS RELEASED. WHICH IS WHAT HAPPENED TO THE BARBER'S GUN. THESE NOTES WRITTEN NEARLY A DECADE BEFORE GUS WAS KILLED.

COHN: WE'VE GOT MORE OF THE DOCUMENTS, AND HOW LOTS OF COMPANIES ARE ABLE TO USE THE COURTS TO HIDE POTENTIALLY LIFE SAVING INFORMATION. WE'RE ALSO TRACKING THIS CONTINUING COURT CASE. IT'S ALL IN OUR SPECIAL REPORT "REMINGTON UNDER FIRE: THE RECKONING" RIGHT NOW AT CNBC.COM/REMINGTON.

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