Thursday, May 10, 2018

Ruger Changes No Business Practices - Responds to Stockholder Demands

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[Editor Note: We are sending this out in advance of Friday's GunsAmerica This Week digest due to the overwhelming fake news that has spread across the internet regarding Ruger's response to a stockholder demand that they produce a report regarding gun safety and smartgun technology.

Blannelberry posted a story on it here. The real story is that Ruger will not be changing any business practices whatsoever. They were forced by law to produce a report, nothing more. Watch for stories this Friday in the Digest regarding the efficacy of smartgun technology, and some insights into the effects of limiting access to firearms to the law abiding. ]

Ruger's official response (posted 5/9/2018 to their Facebook page): Please understand that Ruger was obligated by applicable law to include a shreholder's activist resolution with its proxy materials for a shareholder vote. With its passage, the proposal requires Ruger to prepare a report. That's it. A report.

What the proposal does not do . . . and cannot do . . . is force us to change our business, which is lawful and constitutionally protected. What it does not do . . . and cannot do . . . is force us to adopt misguided principles created by groups who do not own guns, know nothing about our business, and frankly would rather see us out of business. As our CEO explained, "we are Americans who work together to produce rugged, reliable, innovative and affordable firearms for responsible citizens. We are staunch supporters of the Second Amendment not because we make firearms, but because we cherish the rights conferred by it. We understand the importance of those rights and, as importantly, recognize that allowing our constitutionally protected freedoms to be eroded for the sake of political expediency is the wrong approach for our Company, for our industry, for our customers, and for our country. We are arms makers for responsible citizens and I want to assure our long-term shareholders and loyal customers that we have no intention of changing that."

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