Attorneys representing substantially all plaintiffs in litigation involving the 2017 Las Vegas mass shooting said Thursday that they have reached a settlement agreement of between 735 million and 800 million U.S. dollars to resolve pending lawsuits.
The amount of the settlement with MGM Resorts is subject to and depending on the number of claimants who choose to participate in the settlement, according to a statement from the law firm Eglet Adams.
"Today's agreement marks a milestone in the recovery process for the victims of the horrifying events of 1 October. While nothing will be able to bring back the lives lost or undo the horrors so many suffered on that day, this settlement will provide fair compensation for thousands of victims and their families," Robert Eglet, a lead plaintiffs' counsel for the law firm, said in the statement.
The Nevada mass tort, catastrophic, and class action law firm said that it represents nearly 2,500 victims of the deadliest mass shooting in modern U.S. history.
The shooter, Stephen Paddock, rained down about 1,600 rounds of ammo from the 32nd floor suite of Mandalay Bay hotel into a crowd of 22,000 concert-goers on Oct. 1, 2017. A total of 58 people were killed and hundreds injured in the tragedy. Hundreds of lawsuits have been filed against MGM Resorts who owns the hotel to seek compensation for a range of physical and psychological injuries.
According to a preliminary investigative report on the mass shooting released by the Las Vegas Metropolitan Police Department in January 2018, the authorities determined a total of 422 people suffered injuries as a direct result of gunfire, while another 851 individuals suffered other injuries during the attack. Meanwhile, all 22,000 people attending the festival that night are recognized as victims.
"MGM Resorts is a valued member of the Las Vegas community and this settlement represents good corporate citizenship on their part. We believe that the terms of this settlement represent the best outcome for our clients and will provide the greatest good for those impacted by these events," Eglet added.