The Latest: Vegas victim fund is 3rd biggest in US history
SAN DIEGO (AP) — The Latest on a legal settlement over the deadliest mass shooting in modern U.S. history (all times local):
A mega-claims administrator who’s doled out money to victims after 9/11 and other disasters says a settlement makes the Las Vegas shooting compensation fund the third-largest in U.S. history.
Victims’ attorneys announced a deal Thursday worth $735 million to $800 million to settle lawsuits over the 2017 massacre that killed 58 people and injured hundreds.
Kenneth Feinberg oversaw $7.1 billion in victim compensation after the Sept. 11, 2001, terrorist attacks and $6.5 billion following the 2010 BP oil spill in the Gulf of Mexico.
Feinberg isn’t involved in the settlement between MGM Resorts International and Las Vegas shooting victims. He said Thursday that the amount will surpass the $600 million distribution to General Motors vehicle owners affected by faulty ignition switches.
MGM Resorts International says a legal settlement with victims of the deadliest mass shooting in modern U.S. history is a “major step.”
Chairman and CEO Jim Murren said in a statement Thursday that the casino giant’s goal has been to resolve the lawsuits it faced over the 2017 Las Vegas massacre “so our community and the victims and their families can move forward in the healing process.”
He says the company long hoped a settlement deal would be possible.
A gunman opened fire from one of MGM’s hotels into a concert venue it owns, killing 58 people and injuring hundreds.
MGM’s insurers will contribute a minimum of $735 million for a settlement fund. Victims’ attorneys say that depending on the number of participants, MGM will contribute more, up to $800 million.
Attorneys for victims of the deadliest mass shooting in modern U.S. history say they’ve reached a settlement to resolve lawsuits that’s expected to pay between $735 million and $800 million.
A statement Thursday from Las Vegas law firm Eglet Adams says the amount of the settlement with MGM Resorts International depends on the number of plaintiffs who choose to take part.
Hundreds of lawsuits have been filed against the owner of the resort where the gunman opened fire into an outdoor concert on Oct. 1, 2017. The company also owns the venue where 58 people died and hundreds were injured.
The law firm says an independent party will be appointed by a court to evaluate claims and dole out money from the settlement fund.
MGM officials didn’t immediately respond to telephone, text and email messages seeking comment.
An attorney who represents victims of the deadliest mass shooting in modern U.S. history has scheduled a news conference to discuss “extremely important developments” days after the second anniversary of the Las Vegas massacre.
The office of attorney James Frantz says the news conference will be held Thursday in San Diego but wouldn’t provide other details.
The shooting on Oct. 1, 2017, killed 58 people and wounded hundreds of others at an outdoor country music concert on the Las Vegas Strip.
The gunman fired on the crowd from his suite on the 32nd floor of the Mandalay Bay resort. After he killed himself, police found 23 assault-style weapons in the room.
Resort owner MGM Resorts International is defending itself against hundreds of liability lawsuits.