Newman Ferrara with Congregations of Catholic Sisters File Suit Related to Smith & Wesson’s Marketing and Sale of AR-15 Assault Rifles (NASDAQ: SWBI)
Newman Ferrara LLP today announced that a coalition of four congregations of Catholic Sisters represented by the firm filed a stockholder derivative lawsuit naming officers and directors of Smith & Wesson Brands Inc. (“Smith & Wesson” or the “Company”) for wrongdoing related to the marketing and sale of AR-15-style assault weapons.
- Newman Ferrara LLP today announced that a coalition of four congregations of Catholic Sisters represented by the firm filed a stockholder derivative lawsuit naming officers and directors of Smith & Wesson Brands Inc. (“Smith & Wesson” or the “Company”) for wrongdoing related to the marketing and sale of AR-15-style assault weapons.
- AR-15-style rifles, like those manufactured by Smith & Wesson, have been the weapon of choice for killers responsible for the deadliest mass shootings in American history.
- They are not the sporting rifles that members of our own families and other responsible gun owners value.
- While the board recommended voting against the proposal at the September 2023 shareholder meeting, 26.7% of shareholders supported it.