Smith & Wesson Execs Duck Suit Over Misleading Investors

Law360, New York (March 13, 2014, 1:11 PM EDT) -- Executives at firearms maker Smith & Wesson Holding Corp. in Massachusetts federal court Wednesday escaped a shareholder derivative suit alleging they misled investors about excess inventory and sold Smith & Wesson stock while its prices were artificially inflated.

U.S. District Judge Michael A. Ponsor granted the defendants' motion for summary dismissal of the complaint alleging CEO Michael F. Golden, former Chief Financial Officer John A. Kelly, Chairman Barry M. Monheit and the 10 other current and former officers and directors breached their fiduciary duties, wasted corporate...
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