A U.S. District Court judge ruled that NFA registration requirements for short-barreled rifles and suppressors are unconstitutional in Jensen v. ATF, a case supported by the Second Amendment Foundation (SAF), Citizens Committee for the Right to Keep and Bear Arms, FPC Action Foundation, and Texas Rifle Association.
U.S. District Court Judge James Wesley Hendrix ruled in Jensen v. ATF that the National Firearms Act lacks constitutional basis after Congress eliminated transfer taxes for regulated firearms. The Firearms Policy Coalition-backed lawsuit, representing plaintiffs including Hot Shots Custom LLC and the Texas State Rifle Association, achieved a major victory challenging NFA regulations on suppressors and short-barreled firearms.
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.
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.
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, 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, Ruger's largest shareholder with 9.95% ownership, clarified that it proposed a strategic minority investment on market terms to improve performance, not to seek control. The company criticized Ruger's board for maintaining longstanding leadership despite underperformance and nominated independent director candidates including William F. Detwiler, Mark DeYoung, Fredrick DiSanto, and Michael Christodolou.
The National Rifle Association filed a lawsuit against the NRA Foundation, asserting ownership of intellectual property and alleging the foundation's leadership is operating in bad faith and withholding funds. NRA CEO Doug Hamlin stated the foundation has declined to approve 2026 grant funding, jeopardizing programs like the NRA National Firearms Museum and Eddie Eagle GunSafe program.