Liberal activist shareholders set to sue Smith & Wesson as part of ESG push to cripple gun manufacturers
BY Herschel Smith
1 year ago
Liberal activists are preparing to file a lawsuit against the board of one of the largest gun manufacturers in the United States, alleging that the company exposed shareholders to unnecessary liability by selling and promoting AR-15 rifles and thus violating their fiduciary duty.
In a draft of a lawsuit viewed by Fox News Digital expected to be filed this week, liberal activist shareholder plantiffs alleged that the board of 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 semiautomatic firearms.”
The draft explains that the company’s board has expressed “unwillingness to exercise any oversight whatsoever” when it comes to manufacturing and marketing AR-15s, which the shareholders say has exposed the company to unnecessary liability.
The lawsuit is the latest in a series of moves made by liberal activists across the country using the legal system to go after gun manufacturers as a part of a larger movement known as environmental, social, and governance (ESG), which puts pressure on investors to be more “socially conscious.”
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Two of the plaintiffs in the case are led by Sister Judy Byron, an anti-gun activist who recently participated in drafting a statement from the Interfaith Center on Corporate Responsibility, where “investors representing $634 billion in assets” called for pressure on gun manufacturers and companies associated with them “to review their operations, supply chains and policies and take meaningful action on this public safety concern.”
Sisten Judy Byron. Part of a false and anti-Christian church, pushing a false agenda, destroying the hard work of good men, and ruining the lives of millions.
Here is Jared Yanis on the subject.
S&W will need to play rough in order to turn this threat out before it takes roots or they’ll end up another Remington. Kill this movement in its infancy inside your group of shareholders. Hire the best lawyers. Buy them out. Boot them out of meetings. Boot them out of stock ownership if possible. Amend the rules if needed.
Play rough. They already are.
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On December 5, 2023 at 11:02 pm, PGF said:
Prima facie it’s a junk lawsuit. Alleging a best selling product leaves shareholders at risk of loses is an extraordinarily absurd argument. Trying to damage the M&P brand actually placing shareholders at risk is gaslighting at a new level.
Also, one guess who is behind the interfaith movement in the US. Christianity, talmudism, and the mohomeden are not co-equal and everybody knows it. For there is one God, and one mediator between God and men, the man Christ Jesus. There is only one to the Father!
On December 6, 2023 at 1:33 am, Archer said:
Counter-sue for libel and defamation, demand they relinquish their shares at the purchase price or the current market value (whichever is less), and file for a court order barring them from any contact with the company or board or purchasing new shares. And then get whatever other monetary damages are allowed by law.
IANAL, but if the allegation in the lawsuit is that the S&W board “knowingly allowed the Company to become exposed to significant liability for intentionally violating federal, state, and local laws…”, then I would think that simply showing that no laws were violated — at all, let alone “intentionally” — should be enough to destroy Sister Judy’s case and demonstrate her claim was both malicious and known to be false.
“Lawfare” worked against Remington. They’ll keep trying it until there are consequences.
On December 6, 2023 at 8:17 am, Latigo Morgan said:
I remember reading about these jokers when they were buying up Ruger stock. They were sort of brushed off when it became known, but I was telling folks not to ignore them, that when they achieved a large enough position, they’d destroy or try to destroy the company.
On December 6, 2023 at 11:51 am, Joe Blow said:
As a shareholder of SWBI, I categorically reject this motion, and will vote accordingly at the next shareholder meeting.
Bunk, pure bunk. It’s a gun company. If they DIDN’T make an AR, they would not be doing their fiduciary duty to shareholders.
Are the people filing the suit shareholders? If not, they have no standing to file a claim about 3rd parties financial well being. Get fucked, case tossed out of court. Attorney admonished for wasting the courts time.
Sheesh..
On December 7, 2023 at 6:39 pm, Allen said:
I’m guessing guns for the government is still cool?