The FTC accepted a consent order resolving antitrust concerns over Beretta and Sturm, Ruger & Co.'s stock purchase agreement, prohibiting Beretta from appointing non-independent directors to Ruger's board to prevent illegal interlocking directorates that could facilitate anticompetitive coordination between the two major firearm manufacturers.
Beretta Holding S.A. announced a cash tender offer to purchase up to 2,400,184 shares of Sturm, Ruger & Company, Inc. at $44.80 per share, representing approximately 20% premium over the 60-day volume weighted average price. The tender offer, with Saratoga Proxy Consulting LLC as Information Agent, is scheduled to expire October 15, 2026.
The U.S. Court of Appeals for the Third Circuit ruled that NSSF has standing to challenge New Jersey's 'reasonable controls' law, reversing a lower court's decision that invoked the Younger Abstention Doctrine. NSSF Senior Vice President Lawrence G. Keane stated the law violates the Protection of Lawful Commerce in Arms Act and is unconstitutional.
The Citizens Committee for the Right to Keep and Bear Arms announced that current and future members are covered by a U.S. District Court ruling striking down NFA registration requirements for short-barreled rifles, shotguns, and suppressors. The case, Jensen v. ATF, was supported by FPC Action Foundation, Texas Rifle Association, Hot Shots Custom, and the Second Amendment Foundation.
Gun Owners of America, Silencer Shop, Brandon Herrera, and Wes Virdell completed the first lawful suppressor transfers without NFA registration since 1934 at Silencer Shop's Leander, Texas location. The historic transfers followed a federal court order enjoining ATF enforcement of NFA registration requirements, made possible through GOA's One Big Beautiful Bill Act and lawsuit efforts.
The Second Amendment Foundation (SAF) plaintiffs in Jensen v. ATF submitted a letter to the ATF and DOJ seeking guidance after a federal judge ruled the NFA's registration scheme for short-barreled rifles, shotguns, and suppressors unconstitutional. SAF Executive Director Adam Kraut and founder Alan M. Gottlieb requested clarification on government compliance and enforcement plans.
The Second Amendment Foundation (SAF) and Citizens Committee for the Right to Keep and Bear Arms (CCRKBA) achieved a major victory in Jensen v. ATF when the government failed to appeal a ruling declaring the NFA registration scheme unconstitutional. The injunction is now in effect after President Trump eliminated the $200 tax on short-barreled rifles, suppressors, and other weapons.
Sturm, Ruger & Company, Inc. and Beretta Holding S.A. announced a Strategic Cooperation Agreement allowing Beretta Holding to increase its investment to 25% of Ruger's outstanding shares at $44.80 per share. Beretta Holding will nominate up to two independent board members following the 2026 Annual Meeting, while committing to a three-year standstill period.
Beretta Holding, which owns 9.95% of Sturm, Ruger & Company, has proposed an all-cash partial tender offer for up to 20.05% of Ruger's outstanding shares at $44.80 per share, representing approximately 20% premium to the 60-day average price. Beretta Holding seeks exemption from Ruger's shareholder rights plan to acquire up to 30% beneficial ownership, believing increased investment would establish a strategic partnership to improve operational and financial performance.
Sturm, Ruger & Company's Board of Directors received a letter from Beretta Holding S.A. proposing a partial tender offer for up to 20.05% of Ruger's outstanding shares, which would increase Beretta's ownership to approximately 30%. The proposed tender offer has not yet commenced, and shareholders need not take action at this time.
Sturm, Ruger & Company, Inc. launched ruger.com/proxy2026, a dedicated website providing shareholders with materials for the 2026 Annual Meeting, including information on the refreshed Board with five new directors, capital stewardship, and shareholder returns.
Beretta Holding, the largest shareholder of Sturm, Ruger & Company with 9.95% ownership, sent a letter to shareholders detailing the need for board change due to sustained share price underperformance, operational deterioration including 23% gross margin compression, and board members' minimal ownership stakes despite decades-long tenures.