March 29, 2016
By Letitia James, NYC Public Advocate
New York, NY – New York City has an opportunity to lead in the fight against gun violence that is harming communities from coast to coast. With a Congress that refuses to act, it's increasingly up to cities and states to find new and innovative ways to curb violence and hold the gun industry accountable.
Last week, my office called on federal regulators to investigate Sturm, Ruger and Company, one of the largest gun manufacturers in America, for violating U.S. securities law. Americans have the right to know any potential risk associated with their money or their investments and Sturm, Ruger has a legal and moral obligation to disclose the real dangers of their products.
Leah Gunn Barrett, Executive Director of New Yorkers Against Gun Violence said: "We fully support Public Advocate James's call for the SEC to investigate Sturm, Ruger's business practices. We know that on far too many occasions, Ruger's lethal products have ended up in criminal hands. In fact, the illegal firearm market is supplied almost entirely by just 5% of licensed dealers. Manufacturers like Sturm, Ruger know who these dealers are or could easily find out. Sturm, Ruger should be required to document the integrity of their supply chain so their products aren't diverted into dangerous hands by dishonest dealers, and so that they no longer profit from the sale of guns flowing to the illegal market."
This is the second time my office has filed such a complaint with federal regulators: in December, we filed a complaint against Smith & Wesson, the manufacturer of the guns used in the San Bernardino massacre, Umpqua Community College massacre, and the Aurora movie theater massacre.
As your Public Advocate, I will continue to hold gun makers accountable and work to make New York City safer for all.