Smith & Wesson: Gun violence risk report is a political stunt
By Christen Smith
The Smith & Wesson booth during SHOT Show 2018 in Las Vegas. (Photo: Daniel Terrill/Guns.com)
Top executives for Smith & Wesson said this week a shareholder-requested gun violence risk report knowingly abuses the company’s proxy system just to advance a political agenda — and fellow investors shouldn’t fall for it.
“Unlike a bonafide investor, this proponent purchased just 200 shares, the bare minimum needed under SEC rules to place an item on the proxy with the sole objective to push an anti-firearms agenda, designed to harm our company, disrupt the local sale of our products and destroy stockholder value,” Chief Executive Officer James Debney said Thursday during a conference call with investors. “This proponent will gladly sacrifice its investments and yours to achieve its political objectives.”
Earlier this week, the Sisters of the Holy Names of Jesus and Mary filed a resolution asking American Outdoor Brands Corporation — the parent company for the Massachusetts-based gun maker — to report on the risks involved in selling firearms and take “the first steps towards acceptance of this responsibility.” Shareholders will vote on the resolution at the company’s annual meeting next month.
“Contrary to what the company suggests, AOBC has both the responsibility and capacity to play a more