On the recordFebruary 25, 2004
Very few suits have been filed. There is not an epidemic throughout the Nation, but probably the best evidence is from the companies themselves. Let me make reference to the 10-K report on weapons. In the opinion of management, after consultation with special counsel, it is not probable and is unlikely that the outcomes of these claims will have a material adverse effect on the results of the operations or the financial condition of the company as managers believe it has provided adequate reserves. So in 10 cases, in the statement required to be sworn to under the securities laws, Smith & Wesson and other companies have essentially said there is not a material problem.
Source
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