A federal judge on Tuesday once again shot down a lawsuit filed by nuns who bought up shares of Smith & Wesson before suing the company for selling AR-15s.
The Firearms Policy Coalition (FPC) announced the Second Amendment victory on X: “A Nevada federal judge today dismissed a lawsuit brought by a group of nuns who claim Smith & Wesson is violating its fiduciary duty to stockholders like them by continuing to sell AR-15s.”
Sisters attempted to influence the weapons industry through shareholder activism
A well-intentioned but ill-advised group of nuns used the shareholder rights that come with owning stock to influence Smith & Wesson shareholders.
Under the guise of “corporate responsibility,” the sisters parroted contentions of the previous White House administration that there were financial and reputational risks associated with manufacturing certain weapons.
These efforts were largely unsuccessful as Smith & Wesson and others in the industry are already all-in to protect public safety.
Nuns’ lawsuit is circling the drain but not dead yet
Then came the lawsuits. The original thrust was dismissed, and now the second is no more, at least for the time being.
Judge Gloria M. Navarro gave the plaintiffs 21 days to amend their filing, but they “must post a security bond in the amount of $500,000 within 14 days” to proceed.
The FPC noted that the nuns dropped their initial state case and moved their case into the federal court system to avoid the half a million-dollar bond.
The spiritual sisters cannot be faulted for admittedly wrongheaded attempts to help the people. Like everyone else, they see the destruction wrought by violent criminals in society and want to live in a better world.
Their approach is not malicious, but attempts to improve society by disarming law-abiding citizens are at best misguided and often have real world consequences.
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