Home / Business / A judge has approved a $ 800 million settlement for victims of the Las Vegas shooting

A judge has approved a $ 800 million settlement for victims of the Las Vegas shooting

After months of negotiations, all sides of a class action lawsuit against the owner of the Mandalay Bay Resort and Casino in Las Vegas agreed to the settlement, plaintiffs attorney Robert Eglet told CNN by phone.
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There is a 30-day appeal period for the settlement, Eglet said.

“We are confident that it will be completed in such a way that we can distribute the victims’ funds before the end of the year.”

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The settlement will be split among more than 4,000 claimants in the class action. The exact amounts for each victim will be determined independently by a mutually agreed upon pair of retired judges.

Eglet said only one of the potential claimants in the case decided to dismiss the lawsuit.

Stephen Paddock, a withdrawn 64-year-old gamer, opened fire on October 1, 2017, on a crowd gathered for a music festival on the Las Vegas Strip. 58 people were killed and nearly 700 injured in the attack.

Authorities said after the shooting, Paddock was found dead on the floor of his hotel room with what appeared to be a self-inflicted gunshot wound to the head.

“What we were able to answer are who, what, when, where and how,” said Joe Lombardo, Clark County Sheriff, during a press conference in 2018 after the department finalized the final criminal investigation report. “What we couldn’t definitely answer is why Stephen Paddock committed this act.”
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Mandalay Bay is owned by MGM Resorts International. In a filing with the Securities and Exchange Commission last month, MGM said only $ 49 million of the settlement would come from the company’s funds, while the remaining $ 751 million is covered by liability insurance.

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