Sturm Ruger Will Track Gun Violence, After Shareholders Back ‘Activist Resolution’

Ruger says it will comply with a shareholder initiative calling for it to track gun violence. Here, a Ruger AR-15 rifle is seen for sale in Colorado. Sturm Ruger, one of the largest gunmakers in the U.S., will track and report on gun violence involving its products, after its shareholders backed a proposal that the company’s board had recommended not adopting. Ruger says that while it must now produce the gun violence report, the proposal — which it called a "shareholder’s activist resolution" — cannot "force us to change our business." The new requirement is part of Proposal 4, put forth by shareholders who want to see gun companies take more responsibility for preventing deadly violence in the U.S. Shareholders — apparently including large institutional investors — sided with advocates who included nuns from the Sisters of the Holy Names to back the proposal. Ruger’s largest shareholder is money management firm BlackRock; Vanguard is also a large investor in the company. "We believe the board has a responsibility to implement policies and practices that will safeguard the lives of its customers and, more broadly, society," said Sister Judy Byron of the Sisters of the Holy Names of Jesus and Mary. "Too many lives have been lost to gun violence for the manufacturers of these products to wash their hands of their responsibility in these events." The vote was held on Wednesday at Ruger’s annual meeting in Prescott, Ariz. As the floor was opened to questions, the company projected a […]

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