A coalition of Catholic Nuns has filed a lawsuit against Smith & Wesson alleged wrongdoing by the gunmaker related to the marketing and sale of AR-15-style assault weapons.
The stockholder derivative lawsuit filed in Nevada, which names officers and directors of the company, alleges the defendants breached their fiduciary duty to the company and its stockholders by knowingly and intentionally violating federal, state, and local laws, as a result exposing the company to significant liability.
“These rifles [AR-15-style rifles] have no purpose other than mass murder,” the congregations of Catholic Sisters said in a statement.
“We call on Smith & Wesson to return to the practices of its first 153 years of existence when it held itself as a successful beacon of responsible gun ownership and did not manufacture, market, or sell military-grade, mass-killing assault weapons.”
The nuns are being represented by Newman Ferrara LLP.
“Much like the pharmaceutical companies being hammered by civil judgments and fines after enjoying years of profits from the sale of dangerous opioids, Smith & Wesson’s board willfully ignores the potentially ruinous exposure the company faces from its marketing and sale of weapons designed specifically for mass killing,” Newman Ferrara partner Jeffrey Norton commented.
“We are proud to partner with these congregations of Catholic Sisters who have long sought corporate responsibility through their shareholder activism.”
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