Victims’ families are debating a $33 million compensation offer from Remington Arms after a years-long legal fight with the maker of the weapon used in the Sandy Hook Elementary School tragedy.

The offer, made in court filings on Tuesday July 27, by the now-bankrupt gunmakers, comes only one day after a judge refused the company’s plea to dismiss the lawsuit. The amount, however, is much less than the amount the families had previously stated they expected.

Their attorneys predicted in a February court filing that wrongful death claims would likely amount to more than $225 million, with total claims including punitive damages potentially exceeding $1 billion.

Remington’s proposed settlement is a pittance in comparison to the losses alleged by the nine families.

One of the families’ lawyers, Josh Koskoff, said on Tuesday that his clients will “consider their next steps” in response to Remington’s offer from Huntsville, Alabama.

“Since this case was filed in 2014, the families’ focus has been on preventing the next “Sandy Hook,” Koskoff said in a statement. “An important part of that goal has been showing banks and insurers that companies that sell assault weapons to civilians are fraught with financial risk.”

On Dec. 14, 2012, murderer Adam Lanza used a Remington Bushmaster rifle to shoot his way into Sandy Hook Elementary School after killing his mother at home. Twenty kids and six adults were slain.

Lanza committed suicide as police sirens approached, ending the slaughter.

Remington was sued by just nine families of the children who died. In papers with the Connecticut Superior Court in Waterbury, the business revealed the proposed settlements.

Remington filed for Chapter 11 bankruptcy protection in 2018 and emerged under the hands of its creditors the following year.