US NEWS: US panel subpoenas Smith & Wesson over assault rifle data

WASHINGTON, Aug 2 – The U.S. House Oversight Committee has subpoenaed Smith & Wesson Brands Inc ( SWBI.O ) for information about the sales and marketing of its AR-15-style firearms after the manufacturer’s CEO weapons last month, he refused to appear before the legislature, the statement said.

The panel, led by Democratic U.S. Rep. Carolyn Maloney, cited incomplete data and gaps in the company’s metrics in seeking documents from the firearms maker, citing a copy of the letter informing CEO Mark Smith of the congressional subpoena.

“This subpoena was necessitated by your unwillingness to voluntarily comply with the committee’s investigation, including your refusal to testify about your company’s troubling business practices … and your refusal to voluntarily provide key information about your company’s sale of assault weapons to civilians,” Maloney wrote in a letter to Smith.

Representatives for Smith & Wesson did not immediately respond to a request for comment on the subpoena, which was first reported by the Washington Post.

The panel summoned Smith, along with the CEOs of Sturm, Ruger & Co ( RGR.N ) and privately held Daniel Defense, to appear on July 27 after a series of mass shootings as U.S. lawmakers wrangled over ways to address America’s gun violence.

At the hearing, lawmakers pressed two CEOs who appeared to ask for details about the marketing of assault weapons used in recent shootings at a Texas elementary school, a New York grocery store and an Illinois Independence Day parade.

Maloney said Tuesday that Smith & Wesson of Smith initially agreed to appear voluntarily, but then “abruptly withdrew” five days before the hearing.

The U.S. House of Representatives on Friday approved a bill that would ban assault rifles, but the legislation is likely to face defeat in the 50-50 Senate, where it would need 60 votes to pass.

But Congress passed a bipartisan bill in June with some more modest security measures, including tougher background checks. US President Joe Biden signed the law on June 25.

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