AR-15 Style Gun Sales Exceed $1 Billion in 10 Years
Smith & Wesson CEO blames "politicians and media lobbying partners" for rising gun violence across the nation
Mark Smith's written comments posted on the company's website on Monday in a statement said executives were under House oversight. It came weeks after he refused to testify before the commission. In the wake of multiple mass shootings, the firearms industry is being investigated. grocery stores in Buffalo, NYand Uvalde, Texaswithin two weeks.
Committee Chair Rep. Carolyn Maloney (D.-N.Y.) ordered Smith & Wesson to manufacture, sell, and sell military-style products. I submitted a subpoena asking for marketing information. A semi-automatic rifle used for shooting.
Smith & Wesson and four other firearms makers generate more thanbillion dollars in revenue.The panel, citing data provided by the manufacturer, said it had not seen sales of such firearms to civilians over the past decade.
and journalists were responsible for gun deaths. "They are responsible for the surge in violence and lawlessness, and they seek to avoid responsibility for the crisis of violence they have created," he wrote.
"Never back down in defense of the Second Amendment," Mr. Smith declared in a statement, the full text of which was also posted on the National Rifle Association's website.
``Dodging accountability''
The executive's words received a strong rebuke from Maloney.
"It is unconscionable that Smith & Wesson still refuses to take responsibility for selling the assault weapons used to massacre Americans. "It's an offensive weapon," Maloney said in an email to CBS Moneywatch on Thursday.
According to a recent report by the US Congressional Joint Economic Committee Victims and their families pay more than $1 billion annually in medical costs .
Smith & Wesson did not respond to a request for comment. Reported a net profit of $36.1 million on sales of $181.3 million and a profit of $194.5 million on sales of $864.1 million in fiscal year 2022. Smith & Wesson shares fell about 14% over the year doing.
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