Smith & Wesson Wins Dismissal in Activist Lawsuit Backed by Anti-gun Nuns

Summary

Smith & Wesson Brands, Inc. secured a significant victory as the U.S. District Court for the District of Nevada dismissed a derivative lawsuit filed by four congregations of Catholic nuns on March 23, 2026. The lawsuit, Adrian Dominican Sisters et al. v. Smith & Wesson Brands, Inc. et al., alleged the company's board breached fiduciary duties by manufacturing AR-15 style rifles and made misleading statements in its 2024 proxy statement. The court found issues with the plaintiffs' adequacy of representation and failure to establish demand futility, following a similar dismissal in Nevada state court in 2024.