Sandy Hook parents are warning JPMorgan CEO Jamie Dimon to stay out of their way as they continue their lawsuit against gunmaker Remington, which filed for bankruptcy protection on Tuesday morning.
The Chapter 11 bankruptcy stands to shield Remington from outstanding legal actions, including the 2015 wrongful death suit filed by the families of nine victims of the 2012 massacre in Newton Conn. Remington produced and marketed the AR15 assault rifle that was used to shoot 20 small children and their teachers at the Sandy Hook Elementary School.
In a statement released Tuesday afternoon, the suing families urged Remington’s creditors to let their suit proceed. The biggest of those creditors is Dimon’s JPMorgan Chase.
“We call on JPMorgan and other corporate owners to do the right thing,” Mark Barden, who lost his son, Daniel, in the Sandy Hook shooting said in the statement. “Leave our case intact so that we can shed light on Remington’s reckless decisions to help ensure that your family doesn’t have to endure the never-ending heartache of losing your child to preventable gun violence.”
JPMorgan was one of the financial firms that bailed Remington out of its 2018 bankruptcy filing, helping the 200-year-old gunmaker shed $775 million of debt that included massive legal fees from the Sandy Hook suit.
Remington’s 2018 filing made it clear that the Sandy Hook action would remain intact once the company emerged from bankruptcy. Tuesday’s filing in Alabama failed to do the same, the victims’ families said.
While it would not make financial sense for JPMorgan to let a lawsuit continue against Remington, a spokesperson for the Sandy Hook families told The Post that they would potentially add JPMorgan to the suit retroactively if the bank did not comply with their request.
JPMorgan did not respond for comment.