The plaintiffs allege that directors and management irresponsibly broke the law in producing and marketing so-called “assault rifles.” By manufacturing these weapons, of which there are tens of millions in circulation, the venerable company supposedly reneged on its duty to work in the interests of investors.
Part of the contingent of plaintiffs is a group of Catholic nuns who are also investors. They allege company management put shareholders’ interests at risk by producing the popular sporting rifles.
Anti-Second Amendment radicals simply want to litigate the gun industry out of business.
This effort is part of a larger push for companies to be more “socially conscious.” Many of the lawsuits are now in the courts demonstrating the popularity in some circles of the environmental, social and governance (ESG) movement.
In short, it is legal harassment.
A draft of the lawsuit was obtained by Fox News Digital. It claims Smith & Wesson “knowingly allowed the Company to become exposed to significant liability for intentionally violating federal, state and local laws through its manufacturing, marketing and sales of AR-15 style rifles and similar semi-automatic firearms.”
The writing even asserts the company does not conduct “any oversight whatsoever.”
This is laughable as the weapons industry is one of the most heavily regulated in the country. Strict regulations exist at every level. Furthermore, these rifles are legal on the federal level and in most states.
The new lawsuit, like so many others, is simply an attempt to ensnare Smith & Wesson into a protracted legal entanglement. It is meritless and frivolous, and it is highly likely that the court system will see its lack of credibility from the onset.
