Investors attempt to pressure gun manufacturer over NRA ties, guns safety

By Aaron Colen

Sturm Ruger, one of the largest gun manufacturers in the nation, is facing pressure from investors who believe Ruger’s ties to the National Rifle Association constitute a long-term risk to the company, according to the New York Times.

Investors and activists plan to raise several issues at Ruger’s annual shareholder meeting Wednesday, including demands that the company loosen its relationship with the NRA and put more emphasis on gun safety technology.

What’s the story?

The activist push is led by Amalgamated Bank, which last month sent Sturm Ruger a letter detailing concerns about the company’s declining profits, a board member’s dual role with the NRA, and a sales strategy that “has relied too heavily on existing owners buying more guns out of fear of future regulation.”

Amalgamated Bank is an institutional investor and retail bank that, according to the New York Times, promotes social justice issues. Amalgamated has $48 billion in assets, and has a “significant number” of Ruger shares in its managed portfolios.

Amalgamated targeted the Ruger board membership of Sandra Froman, who served as NRA president from 2005 through 2007, and who continues to serve as an NRA board member. The bank wrote that Froman’s membership on …Read the Rest

Source:: The Blaze