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A memorial fund for those surviving Shawn Jackson, 18, and Renzo Smith, 36, had been launched overnight.
The suspect, Ameri Ty-John Pollard, and Jackson apparently had an ongoing dispute, Richmond Police Chief Rick Edwards said at a news conference.
Pollard allegedly watched the graduation ceremony and then went to his car and pulled out a handgun, firing as crowds filed out of the Altria Theater around 5:15 p.m., police said.
Five other victims were struck by gunfire, and about a dozen were purportedly hurt in the chaos that ensued — including a young child struck by a car.
Richmond Mayor Levar Stoney during a press conference called the event tragic and traumatic for the children involved.
"Is nothing sacred any longer?" the mayor asked.
Few details around the shooting were known as of 8:20 p.m.
Several people took to Twitter to express outrage.
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