Gun maker Remington is expected to file for bankruptcy, a move that threatens a landmark class action settlement, according to The National Trial Lawyers President Mark Lanier. CNBC quotes Lanier as saying “If they file for bankruptcy, it will stay all proceedings.” Lanier was a lead attorney for plaintiffs who said Remington’s Model 700 and several similar models could fire without the trigger being pulled because of a design defect. Lanier also told CNBC that he’s concerned that none of the weapons will be retrofitted with a fix.
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