Stun-Gun Maker Taser Defends Stock Sales
Taser International Inc., the stun-gun maker whose safety claims are being probed by the Securities and Exchange Commission, issued a letter Tuesday defending $105.8 million in stock sales last year by the family that has run the business.
In a letter to shareholders Tuesday defending the Smiths’ stock sales, Taser also said that it may see delays in orders as law enforcement agencies evaluate stun guns made by competitors.
Taser’s shares dropped $5.95 to close at $14.10 on Nasdaq, down from a 52-week high of $33.45 on Dec. 30.
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