Stockholder nuns call out Smith & Wesson over gun violence, putting another proposal up for vote

Stockholder nuns call out Smith & Wesson over gun violence, putting another proposal up for vote

SPRINGFIELD — A group of nuns who bought stock in Smith & Wesson just to have a say in the gun debate are once again calling out the manufacturer for what they call indifference to firearms’ impact on human rights. The Adrian Dominican Sisters say the Springfield-based company has a responsibility to adhere to the U.N. Guiding Principles on Business and Human Rights . The nuns have for the third time placed a proposal on the ballot sent out to shareholders that would force management at Smith & Wesson to address their concerns. The annual shareholders meeting is Sept. 27. “We first filed this proposal in (2019) believing a formal human rights policy would serve the company and all its stakeholders, particularly in light of the company’s business model, for example its sales of potentially lethal firearms that could cause serious human rights harms,” wrote wrote sister Judy Byron, of the Northwest Coalition for Responsible Investment, in response to an emailed question. “These policies have been adopted by hundreds of companies with far lesser risk profiles. The proposal garnered 36% support, which is a strong signal that shareholders understand the concerns and see the value of having a policy in place to mitigate these human rights risks.” Management’s opposition to the nuns is recorded in its instructions to shareholders filed with the Securities and Exchange Commission . The company says complying with the proposal would subject it to tens of billions of dollars in liability from injured parties. It […]

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