Home business Smith & Wesson lose battles with nuns and other shareholders about the...

Smith & Wesson lose battles with nuns and other shareholders about the proposal for an arms security

Sister Judy Byron, who presented the proposal on behalf of the 11 shareholder groups that supported it, said the step could be crucial for the company's survival. Recent mass shootings in the United States have implicated American Outdoor Brands products, she said, exposing the company and shareholders to boycotts, protests and negative publicity. American Outdoor Brands, she said, "is obliged to help find these solutions."

The company refused to respond to questions from other shareholders about the proposal after the vote.

In a statement after the meeting, Byron said: "Not only can these solutions help save lives, they can also help AOBC's long-term prospects in the process, and we are delighted that so many of our co-shareholders today have supported our resolution."

The religious groups got a boost this year from large fund companies such as BlackRock, who have chosen Sturm Ruger and have issued 2.8 million shares in favor of the proposal. BlackRock and Vanguard are the largest shareholders of Sturm Ruger and American Outdoor on account of their large index fund activities.

Important voting advisers for shareholder Institutional Shareholder Services and Glass Lewis also supported the passage of the proposal.

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