Press release from Business Wire
Faruqi & Faruqi, LLP Is Investigating Smith & Wesson Holding Corporation On Behalf of Its Shareholders
Friday, July 16, 2010
Faruqi & Faruqi, LLP Is Investigating Smith & Wesson Holding Corporation On Behalf of Its Shareholders17:28 EDT Friday, July 16, 2010 NEW YORK (Business Wire) -- Faruqi & Faruqi, LLP, a leading New York securities firm, is investigating the Board of Directors and Officers of Smith & Wesson Holding Corporation (“Smith & Wesson” or the “Company”) (NASDAQ: SWHC). The investigation focuses on possible breaches of fiduciary duties by the Board of Directors and/or Officers of the Company in relation to the US Department of Justice (DOJ) investigations into potential violations of the Foreign Corrupt Practices Act (FCPA). In the recent annual report filed on July 1, 2010, Smith & Wesson disclosed the DOJ investigation. On January 19, 2010, the DOJ unsealed indictments for 22 individuals from the firearm industry that alleged the defendants “conspired to pay bribes for supply contracts” to an undercover FBI agent posing as a representative of an African nation. Smith & Wesson confirmed that one of the defendants was their vice president of sales for their International & U.S. Law Enforcement division. Smith & Wesson acknowledged that the company “could be prevented from bidding on domestic military and government contracts, and could risk debarment by the U.S. Department of State.” Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action and derivative litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, through all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. If you own common stock in Smith & Wesson and wish to obtain additional information, please visit us at http://www.faruqilaw.com/merger.php or contact Juan E. Monteverde, Esq. either via email at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330. Attorney Advertising.(C) 2010 Faruqi & Faruqi, LLP. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We are happy to discuss your particular case.