The maker of Smith & Wesson firearms lost a prolonged fight with religious groups and other shareholders who have been pushing it to consider a plan to help reduce the harmful effects of its products.
The investors, led by The Interfaith Center on Corporate Responsibility, presented a resolution on gun safety at American Outdoor Brand's annual shareholder meeting Tuesday, the same resolution it successfully passed at Sturm Ruger earlier this year. And the preliminary voting showed the shareholders also won this fight.
The proposal calls on American Outdoor Brands, Smith & Wesson's parent company, to put together a report on whether the gun maker is adequately addressing the risks that its products are associated with gun violence and to show evidence it is exploring ways to make safer guns and products to reduce this violence.
Speaking at the meeting after the results of the vote were revealed, American Outdoor Brands CEO James Debney said the vote was "politically motivated" and that he was "disappointed" the shareholders had taken their fight to the annual meeting rather than work through legislatures.