The letter conveying the notice of subpoena to Smith, and reviewed by The Washington Post, highlighted the incomplete figures provided to the oversight committee by Smith & Wesson so far – and the major shortcomings in the measures of the company.
“Although your company declined to provide information specific to AR-15 style rifles, the limited information provided shows that your company brought in at least $125 million worth of AR-15 style rifles in 2021 alone,” says committee chair Rep. Carolyn B. Maloney (DN.Y.) writes about the need for a subpoena for the company that made the assault rifle used by the shooter who opened fire in a 4th of July parade in Highland Park, Illinois, killing seven and injuring 46.
Overall, the committee found that the top five firearms makers surveyed earned more than “$1 billion in revenue over the past few decades” from sales of shotguns. AR-15 style, according to Maloney, and which Smith & Wesson brought in a record $1.1 billion. overall sales in the company’s latest annual earnings report – the highest in its 170-year history.
Maloney writes that Smith & Wesson informed the committee that it “makes no effort to track or monitor injuries, deaths, or crimes associated with the AR-15 type rifles you manufacture, even if such data is included in a Bureau-managed tracing process. alcohol, tobacco, firearms and explosives.
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Chairman and CEO Mark P. Smith initially agreed to appear before the committee, according to Maloney, but backed out over fears he was “the only CEO in the industry to appear.” Despite assurances from his attorney that Smith would be “willing” to appear at a future hearing with industry representation, he ultimately declined to appear at the July 27 hearing where executives from Sturm, Ruger & Co . and Daniel Defense appeared.
“Your lawyer said for the first time that you will be ‘out of town’ and ‘unavailable to testify’ every day until Congress goes out of session for the one-month district work period in August. “, writes Maloney.
During this hearing, these other leaders defended their products and ownership of powerful guns, arguing that the problem was the people who used these guns to inflict mass death.
The committee, which launched its inquiry in May, released a report ahead of the hearing that criticized gun companies for how they promoted guns, including “marketing to children, preying on the insecurities of young men and even appealing to violent white supremacists,” Maloney said during the hearing.