SPRINGFIELD, Mass., July 28, 2014 /PRNewswire/ -- Smith & Wesson Holding Corporation (NASDAQ Global Select: SWHC), a leader in firearm manufacturing and design, today announced that it has reached an approximate $2 million civil settlement with the Securities and Exchange Commission (SEC) related to a 2010 inquiry stemming from a Department of Justice (DOJ) investigation which was later dropped by the DOJ. The company consented to the settlement without admitting or denying the findings of the inquiry. The settlement expense was accrued by the company in the fourth quarter of its fiscal year ending April 30, 2014.
President and CEO of Smith & Wesson, James Debney, said, "We are pleased to have concluded this matter with the SEC and believe that the settlement we have agreed upon is in the best interests of Smith & Wesson and its shareholders. Today's announcement brings to conclusion a legacy issue for our company that commenced more than four years ago, and we are pleased to now finally put this matter behind us."
About Smith & Wesson
Smith & Wesson Holding Corporation (NASDAQ Global Select: SWHC) is a U.S.-based leader in firearm manufacturing and design, delivering a broad portfolio of quality firearms, related products, and training to the global military, law enforcement, and consumer markets. The company's brands include Smith & Wesson®, M&P®, and Thompson/Center Arms™. Smith & Wesson facilities are located in Massachusetts, Maine, and Connecticut. For more information on Smith & Wesson, call (800) 331-0852 or log on to www.smith-wesson.com.
Contact: Liz Sharp, VP Investor Relations
Smith & Wesson Holding Corp.
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