Newman Ferrara LLP announced today that the firm is conducting an investigation on behalf of shareholders of Smith & Wesson Brands, Inc. (NASDAQ:SWBI) and Sturm, Ruger & Company, Inc. (NYSE:RGR) (collectively, the “Assault Weapons Manufacturers”) into potential breaches of fiduciary duty by the companies’ boards of directors.
The Assault Weapons Manufacturers are engaged in the manufacture, marketing, and sales of AR-15-style rifles and similar firearms that have commonly been used in mass shootings. Newman Ferrara’s investigation focuses on the boards of directors’ oversight of corporate practices that have potentially exposed the Assault Weapons Manufacturers to a substantial likelihood of liability in connection with gun violence and mass casualty events. Considering the rising prevalence of gun deaths and mass casualty events using the Assault Weapons Manufacturers’ products over the past few decades, it is clear that by allowing those companies to manufacture, market, and sell AR-15-style rifles and similar firearms, the members of those companies’ boards of directors have taken no action to mitigate the risk of liability and corporate harm those companies now face.
Current stockholders of the Assault Weapons Manufacturers that seek more information on this matter are invited to contact Newman Ferrara attorneys Jeffrey Norton (jnorton@nfllp.com) or Benjamin Baker (bbaker@nfllp.com) to discuss this investigation and their rights.
Newman Ferrara maintains a multifaceted practice based in New York City with attorneys specializing in complex commercial and multi-party litigation, securities fraud and shareholder litigation, consumer protection, civil rights, and real estate. For more information, please visit the firm website at www.nfllp.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220726005876/en/