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Sturm, Ruger & Company, Inc. (NYSE: RGR), the nation's largest firearms manufacturer, announced that on October 19, 2004, the D.C. Court of Appeals vacated the court's judgment of April 29, 2004, which had dismissed the city's claim against firearms manufacturers but let stand certain individuals' claims against manufacturers of firearms allegedly used in criminal assaults against plaintiffs under the Washington, D.C. "Strict Liability Act", subject to proof of causation. It scheduled a rehearing of the entire matter en banc by the full Court of Appeals, to be heard early in 2005.
The trial court originally dismissed the case in 2002, with the trial judge holding that the plaintiffs failed to state a cause of action at common law and that the D.C. "Strict Liability" law was unconstitutional. On April 29 of this year, the D.C. Court of Appeals upheld the dismissal of the city's case, but found the "Strict Liability" law to be constitutional as to individual plaintiffs. Both sides had filed petitions for rehearing of issues they believed had been decided erroneously, or in the alternative, for a hearing en banc. The court chose to grant the latter, and further ordered full briefing and oral argument on all issues at the rehearing next year.
About Sturm, Ruger & Co., Inc.
Sturm, Ruger & Co., Inc. is one of the nation's leading manufacturers of rugged, reliable firearms for the commercial sporting market. With products made in America, Ruger offers consumers almost 800 variations of more than 40 product lines, across both the Ruger and Marlin brands. For almost 75 years, Ruger has been a model of corporate and community responsibility. Our motto, “Arms Makers for Responsible Citizens®,” echoes our commitment to these principles as we work hard to deliver quality and innovative firearms.
The Company may, from time to time, make forward-looking statements and projections concerning future expectations. Such statements are based on current expectations and are subject to certain qualifying risks and uncertainties, such as market demand, sales levels of firearms, anticipated castings sales and earnings, the need for external financing for operations or capital expenditures, the results of pending litigation against the Company, the impact of future firearms control and environmental legislation, and accounting estimates, any one or more of which could cause actual results to differ materially from those projected. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to publish revised forward-looking statements to reflect events or circumstances after the date such forward-looking statements are made or to reflect the occurrence of subsequent unanticipated events.
Sturm, Ruger & Co., Inc. “Arms Makers for Responsible Citizens®”