Judge Shoots Down Smith & Wesson Securities Suit

Law360, New York (March 28, 2011, 1:59 PM EDT) -- A Massachusetts federal judge on Friday shot down a public pension fund's securities class action against gun manufacturer Smith & Wesson Holding Corp., finding that the defendant's rosy forecasts for demand were essentially true.

Judge Michael A. Ponsor of the U.S. District Court for the District of Massachusetts said that while there was “mixed and ambiguous evidence” that suggested demand for Smith & Wesson's firearms was falling during the summer of 2007, the record level of demand for its firearms that the company cited in its...
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