A group of anti-gun nun shareholders sued Smith & Wesson over continued AR-15 production.
A Nevada judge signaled the suit was unlikely to succeed and required the plaintiffs to post a $500,000 bond, indicating skepticism of their arguments.
The judge noted victory would not benefit the corporation or shareholders.
The plaintiffs argued AR-15s should be regulated as machine guns under the NFA, though they ignored a mass shooting with handguns that killed more.
The suit aimed to limit Smith & Wesson sales to NFA guidelines.
However, AR-15s are very popular rifles made by numerous companies, with over 28 million owned as of 2021.
The judge’s rulings suggest the activist shareholders’ aims were not aligned with the company or most shareholders’ interests.
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