Parkland shooting victims' families settle lawsuit with DOJ

• The FBI acknowledged after the massacre that it did not follow protocol after receiving a tip in January 2018 that the former student who went on to carry out the killings was "going to explode."

The big picture: Fred Guttenberg and Jennifer Guttenberg, whose 14-year-old daughter was killed in the mass shooting, filed a negligence lawsuit against the Bureau in November 2018 and 39 other families later joined the suit, per the New York Times.

• The settlement amount was not disclosed in the filing. But multiple outlets, including the Washington Post, the Wall Street Journal and CNN, reported that it amounts to about $127.5 million, to be distributed among the families of the victims.

What they're saying: "Although no resolution could ever restore what the Parkland families lost, this settlement marks an important step toward justice," said Kristina Infante, the lead attorney for the families, in a statement to news outlets.

What to watch: Per the joint court filing, obtained by CNN, the parties state that they're working to finalize additional details of the settlement before submitting it for final approval.

• Former student Nikolas Cruz pleaded guilty last month to 17 counts of murder and 17 counts of attempted first-degree murder for carrying out the deadly shooting. A 12-person jury will determine Cruz's sentencing.

Go deeper: Parkland shooting victims' families settle suit with school district