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BREAKING :
THE NATIONAL RIFLE ASSOCIATION IS FIGHTING BACK AGAINST A LAWSUIT FILED THURSDAY BY NEW YORK’S ATTORNEY GENERAL BY SUBMITTING ITS OWN CIVIL SUIT AGAINST THE STATE OFFICIAL, ACCUSING HER OF DEFAMATION AND VIOLATING ITS RIGHTS TO FREE SPEECH. THE NRA’S LAWSUIT WAS FILED IN THE FEDERAL COURT OF NEW YORK AND ALLEGES ATTORNEY GENERAL LETITIA JAMES “MADE THE POLITICAL PROSECUTION OF THE NRA A CENTRAL CAMPAIGN THEME” WHEN SHE WAS RUNNING FOR THE AG’S OFFICE IN 2018, AND HAS NOT TREATED THE ASSOCIATION FAIRLY SINCE.AS POLICE FORCES THROUGHOUT AMERICA LOSE FUNDING, THE INEVITABLE HAS BEGUN: PEOPLE ARE STOCKING UP ON GUNS AND AMMUNITION. BACKGROUND CHECKS PRIOR TO GUN PURCHASES HAVE SHOT UPWARD. IN JULY OF THIS YEAR, THE FEDERAL BUREAU OF INVESTIGATION PERFORMED 3,639,224 OF THESE CHECKS. IN JULY 2019, THEY PERFORMED ONLY 2,030,661. THAT’S AN INCREASE OF 79.2 PERCENT. JUNE, THE MONTH MAJOR RIOTS BEGAN SWEEPING THROUGH AMERICA, SAW AN EVEN STEEPER INCREASE. FBI DATA INDICATES 2.3 MILLION GUNS WERE SOLD IN JUNE 2020—AN INCREASE OF 145.3 PERCENT OVER JUNE 2019. MEANWHILE, POLICE IN MAJOR CITIES ARE BEING DEPRIVED OF THEIR ABILITY TO ENFORCE THE LAW.SINCE MARCH, MANY INDUSTRIES HAVE COME TO A STUTTERING HALT OR HAD TO ADJUST THEIR OPERATIONS QUICKLY TO REMAIN AFLOAT AMID COVID-19. HOWEVER, THE WEAPONS INDUSTRY, PARTICULARLY GUN OWNERSHIP AMONG BOTH WOMEN AND MEN, HAS SEEN A HUGE SPIKE AMID THE PANDEMIC AND NATIONWIDE PROTESTS. AN ESTIMATED 46.3 PERCENT OF ADULTS OWN GUNS IN ARIZONA IN 2020. WOMEN GUN OWNERSHIP ACCOUNTS FOR MORE THAN 20 PERCENT OF GUN OWNERS NATIONWIDE.AMMO SALES HAVE SURGED FOR VISTA OUTDOOR AND OLIN CORP. DURING THE COVID-19 PANDEMIC AS FEARS OF CORONAVIRUS AND CIVIL UNREST PROMPT AMERICANS TO BUY GUNS AND BULLETS. VISTA OUTDOOR CEO CHRIS METZ SAID IN AN EARNINGS CALL THURSDAY THAT STRONG AMMUNITION SALES IN THE LAST QUARTER WERE DRIVEN BY AN INDUSTRY-WIDE 40% INCREASE IN FIRST-TIME GUN BUYERS DURING THE PANDEMIC, INCLUDING WOMEN AND PEOPLE OF COLOR, BASED ON DATA FROM HE NSSF GUN INDUSTRY GROUP. HE SAID THAT AMMO DEMAND IS SO BRISK, AND FUELED IN PART BY STOCKPILING, THAT SOME NEW BUYERS HAVE COMPLAINED THAT THEY CAN’T FIND ENOUGH AMMO IN STOCK.SMITH & WESSON ANNOUNCED THAT THEY WILL BE SPINNING OFF AMERICAN OUTDOOR BRANDS IN AUGUST. THE SMALL SIZE (NEARLY MICRO-CAP) OF THE SPIN-CO RELATIVE TO THE PARENT MAY PRESENT AN OPPORTUNITY TO TAKE ADVANTAGE OF FORCED SELLING. INCENTIVES OF NEW MANAGEMENT ARE STRONG. TRADING COMPS SUGGEST THAT THE SPIN-CO MAY FETCH A HIGHER MULTIPLE THAN IT WOULD AS A PART OF SMITH & WESSON BRANDS. IT WAS ANNOUNCED FRIDAY THAT SMITH & WESSON'S (SWBI) BOARD OF DIRECTORS APPROVED THE SPINOFF OF THEIR "OUTDOOR PRODUCTS AND ACCESSORIES" BUSINESS LINE AS AMERICAN OUTDOOR

INT’L – GUN CONTROL – Court challenges over federal gun ban drum up legal costs as confrontation begins

A prominent gun lobby and longtime firearm importer challenging the Liberal ban on 1,500 models of semi-automatic rifles have already raised nearly $300,000 for legal costs. Firearm owners, businesses and lobbyists who dispute the cabinet order passed on May 1 have filed three separate Federal Court applications to strike it down: in Ottawa, Toronto and Calgary. Another separate challenge has been launched in Alberta’s Court of Queen’s Bench, the province’s federally appointed superior court, by two prominent dealers in semi-automatic weapons. The court actions are shaping up to be a battle not just between the Trudeau government and gun owners and businesses, but between a high-profile new firearm lobby and one of Canada’s two long-established and prominent advocates for more gun control and prohibitions. The head of the Coalition for Gun Control, founded in the wake of the 1989 massacre of 14 women at Montreal’s Polytechnique engineering school, told iPolitics it has submitted applications for intervenor status in all three Federal Court cases. But the first intervenor request from the anti-gun gun coalition to show up on public court records of the legal action is an application to take part in the Federal Court challenge in Calgary, led by the Canadian Coalition for Firearm Rights (CCFR), an upstart arch enemy of the gun control group and its president, Wendy Cukier. Another spokesperson for the gun control coalition also confirmed it has filed for leave to intervene in the other two Federal Court challenges, and provided more details. The group has retained three lawyers from one of Canada’s most prominent law firms, Osler, Hoskin and Harcourt, which former Bank of Canada governor Stephen Poloz joined only last month. Two of the three lawyers are based in the firm’s Calgary office and one in Toronto.  [full article]

 

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