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They are suing from the standpoint of them being shareholders and saying that S&W isn't living up to their fiduciary duty by engaging in the sale of those guns potentially hurting profits. It sidesteps PLCAA because its more of a SEC thing.I thought the law shielding gun manufacturers from lawsuits was still on the books. Did something change recently? If it's still in place this will get thrown out pretty quick.
It doesn't work like that. They are allowed to challenge based on their ownership state and the rest of the owners don't really have a say. I believe their accounting will also include legal and cases like this aren't unique, its just that the news media gives them a podium so more are aware of it.We can just ignore them.
Honestly - some guy controls 1% of the stock. Or 5%. That's not 50%. Good luck getting another 45% of shareholders to agree with you.
I was utterly SHOCKED to find out a few years ago that a MASSIVE amount of a CEO's time is spent talking with investors and analysts. I'm sorry. WHAT????
If I was a big-wig CEO, I'd focus on MAKING MY COMPANY BETTER. Maybe I'd do a "press conference" style thing at 9am every Friday or something. Otherwise, leave me the F alone and let me run the company. You want news? Check out the earnings. Period. Go away!
As far as these lawsuits? I'd publish on PAGE FREAKING ONE of the annual and quarterly report how much profit was lost b/c of this bullspit. Other investors would get on board and shut this crap down pretty damned fast. Who is gonna pay if they "win" the lawsuit? The company. Ergo - even LESS profits.
You want pressure? We'll have shareholders pressure you right back. Go the F away! The rich don't want you pissing in their organic individually curated Wheaties.
I think they are finding it to be cheaper to take down these targets from the inside than trying to through external means. Plus they don't need to worry about plcaa.
all is fair in a good fight. buy enough shares of a company to get a voice, then sue it and bring it down. because reasons.