Two years after the Las Vegas shooting that killed 58, the lawyers representing some of the hundreds wounded and family members of victims announced on Thursday that MGM Resorts could pay up to $800 million to settle lawsuits.
The announcement comes just days after the two-year anniversary of the attack where Stephen Paddock opened fire into a crowd of concertgoers outside the Mandalay Bay resort on October 1, 2017. There is still no known motive for the shooting.
Robert Eglet, a lead Plaintiffs’ Counsel, said in a statement:
“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. 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.”
MGM is the owner of the venue where the attacks were carried out and has been hit with hundreds of liability lawsuits.
An independent party appointed by the court will evaluate how money from the settlement fund should be distributed. The process is expected to be completed by 2020.
MGM will pay a minimum of $735 million, but could pay up to $800 million, depending on claimant participation.