Ruger Under Attack from Public Advocate

    Sturm, Ruger & Company has been facing scrutiny as of late for not warning its investors of the alleged risks it faces.

    Letitia James, who is New York City’s Public Advocate, is tasked with advancing, investigating, and ensuring the interests of the public. This can come about through her responding to complaints filed by the public or her own research into concerns of the people she serves.

    Letitia James has had a history of attacking gun manufacturers in the past including Smith & Wesson. Her most recent swing has been aimed at Ruger as she sent a letter to the Securities and Exchange Commission (S.E.C.) on Tuesday, March 22nd stating that Ruger has not fully disclosed the risks of their business to its stockholders. This is all primarily in response to 2 New York city police officers being shot by someone armed with a Ruger .357 Magnum revolver which she referenced in her letter.

    New York City's Public Advocate Letitia James

    New York City’s Public Advocate Letitia James

    Letitia James remarked in a public statement regarding her letter to the SEC that “gun manufacturers must come clean about the dangers posed by their business and the risks it represents for even their shareholders.”

    The bloodshed for Ruger and other firearm manufacturers doesn’t stop there though. Multiple investment groups are coordinating with their clients to dump gun manufacturers from their portfolios because of the perceived risks associated with carrying them.

    Smith & Wesson felt this direct pressure last December when Letitia James pushed for the SEC to investigate them for possible wrongdoings. The straw she so desperately grasped at was that Smith & Wesson was not pro-actively doing anything to stop criminals from getting their brand of firearms. (As a public advocate, I wonder what she does to ensure candy bars don’t fall into the wrong hands with our current obesity epidemic).

    This societal fear even reaches into the doors of such retailers as Cabela’s, Wal-Mart, and Dick’s Sporting Goods. Whether its been to stock firearms that hold 8 rounds or less, for their stockholders to re-assess their ownership of shares, or to remove certain types and brands of firearms entirely from their shelves, these retailers are feeling the burn from irrational firearm fear.

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