Parkland lawsuit spikes Smith & Wesson share prices
The Smith & Wesson booth during SHOT Show 2018 in Las Vegas. (Photo: Daniel Terrill/Guns.com)
Share prices for Smith & Wesson’s parent company, American Outdoor Brands, surged this week as details of a pending lawsuit over the Parkland shooting emerge.
Smith & Wesson’s stock increased 5 percent Thursday — the same day the Sun-Sentinel reported plaintiffs in a Broward County lawsuit against the gun maker and Sunrise Tactical Supply, a local retailer, want the presiding judge to shield them from financial ruin should the case get tossed out.
The confusion stems from Florida Statute 790.331 which prohibits government bodies from suing gun industry businesses for damages over issues involving lawful commerce. Also, the law directs the court to award “all attorney’s fees, costs and compensation for loss of income, and expenses incurred as a result of such action.”
The case, brought against Smith & Wesson by the parents of students killed attack at Marjory Stoneman Douglas High School — want clarification the law doesn’t block them from collecting damages or want the judge to declare the statute unconstitutional.
The gunman at Parkland used a Smith & Wesson M&P15 rifle to murder 14 students and three teachers on Valentine’s Day. Another 15 others were injured in the attack, considered the deadliest school shooting in a decade.
The bump in share prices follows a steady increase in American Outdoor Brands share prices throughout the month — on the heels of new export rules and a promise from the president to protect the Second Amendment during his tenure.
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