Swordsmyth
09-25-2018, 10:21 PM
Shareholders of Smith & Wesson, the largest U.S. firearm (https://www.huffingtonpost.com/topic/guns) manufacturer, voted Tuesday to urge the gunmaker to publish a report documenting violent events associated with its products and examining the reputational and financial risks it could face from shootings, as well as efforts the company is taking to make its weapons safer.
The push was spearheaded by a coalition of religious groups organized under The Interfaith Center on Corporate Responsibility (https://www.iccr.org/). Sister Judy Byron of the Intercommunity Peace & Justice Center introduced the proposal (https://www.iccr.org/sites/default/files/page_attachments/aobc_judys_remarks_at_agmv2_0.pdf) at a virtual shareholder meeting Tuesday afternoon, arguing that gun violence carried out with Smith & Wesson firearms — including high-profile mass shootings like the one in Parkland, Florida, in February — could damage the manufacturer’s parent company, American Outdoor Brands Corporation.
“The majority of guns used in crimes in major U.S. cities are AOBC guns,” Byron said. “Each event brings new threats of lawsuits, boycotts, divestment and demonstrations — and along with them, a wave of damaging news stories about gun companies and their inability to make their products safer for civilians, and most critically, to help prevent their misuse by children.”
The company’s proximity to these events means it is “obligated to help find ... solutions to gun violence,” Byron added.
In comments after the meeting Tuesday, American Outdoor Brands CEO James Debney disagreed, saying the vote was “politically motivated,” according to CNBC (https://www.cnbc.com/2018/09/25/smith--wesson-loses-fight-with-nuns-on-gun-safety-proposal.html). He did not publicly commit to commissioning the report outlined in the proposal. Although publicly traded companies are allowed to ignore shareholder proposals, organizers of the campaign were hopeful that American Outdoor Brands would take their concerns seriously.
More at: https://www.yahoo.com/news/smith-wesson-shareholders-vote-favor-205226257.html
The push was spearheaded by a coalition of religious groups organized under The Interfaith Center on Corporate Responsibility (https://www.iccr.org/). Sister Judy Byron of the Intercommunity Peace & Justice Center introduced the proposal (https://www.iccr.org/sites/default/files/page_attachments/aobc_judys_remarks_at_agmv2_0.pdf) at a virtual shareholder meeting Tuesday afternoon, arguing that gun violence carried out with Smith & Wesson firearms — including high-profile mass shootings like the one in Parkland, Florida, in February — could damage the manufacturer’s parent company, American Outdoor Brands Corporation.
“The majority of guns used in crimes in major U.S. cities are AOBC guns,” Byron said. “Each event brings new threats of lawsuits, boycotts, divestment and demonstrations — and along with them, a wave of damaging news stories about gun companies and their inability to make their products safer for civilians, and most critically, to help prevent their misuse by children.”
The company’s proximity to these events means it is “obligated to help find ... solutions to gun violence,” Byron added.
In comments after the meeting Tuesday, American Outdoor Brands CEO James Debney disagreed, saying the vote was “politically motivated,” according to CNBC (https://www.cnbc.com/2018/09/25/smith--wesson-loses-fight-with-nuns-on-gun-safety-proposal.html). He did not publicly commit to commissioning the report outlined in the proposal. Although publicly traded companies are allowed to ignore shareholder proposals, organizers of the campaign were hopeful that American Outdoor Brands would take their concerns seriously.
More at: https://www.yahoo.com/news/smith-wesson-shareholders-vote-favor-205226257.html