Friday March 17 11:57 AM ET
U.S. Seen Dropping Legal Threat Against Gun Maker
WASHINGTON (Reuters) - The Clinton administration will announce on Friday that it is dropping the threat of joining a class action law suit filed by the
nation's housing authorities against Smith & Wesson, a major gun manufacturer.
Administration sources said the threat of legal action was dropped after the company agreed to institute a series of safety measures, including installing child
trigger locks and so-called smart-technology, which prevents anyone but the owner of a particular gun from firing it.
U.S. Treasury Secretary Lawrence Summers, who also oversees the Bureau for Alcohol, Tobacco and Firearms (ATF), and Housing Secretary Andrew
Cuomo were due to announce the move at noon in what the Treasury, in a brief statement, called a ``historic gun announcement''. Treasury officials declined
to comment further.
President Clinton was due to speak on the issue at 2 p.m. (1900 GMT) at the Oval office.
Smith & Wesson, based in Springfield, Mass., is a unit of Britain's Tomkins PLC (TOMK.L).
Summers earlier on Friday canceled a speech in Florida at the annual Futures Industry Association conference because of the event.
Gun control has been a major issue in recent days as the White House and the National Rifle Association have exchanged salvos over the matter.
The latest series of exchanges began on Sunday when NRA Executive Vice President Wayne LaPierre said he believed Clinton tolerated gun killings so as to
exploit them for political gain. The White House has angrily rejected the charge and is pursuing efforts at greater gun control.
President Clinton wants the two houses of Congress to forge compromise legislation to reconcile a Senate bill passed in 1999 with most of the gun control
measures he is seeking with a less stringent House of Representatives version.
U.S. Seen Dropping Legal Threat Against Gun Maker
WASHINGTON (Reuters) - The Clinton administration will announce on Friday that it is dropping the threat of joining a class action law suit filed by the
nation's housing authorities against Smith & Wesson, a major gun manufacturer.
Administration sources said the threat of legal action was dropped after the company agreed to institute a series of safety measures, including installing child
trigger locks and so-called smart-technology, which prevents anyone but the owner of a particular gun from firing it.
U.S. Treasury Secretary Lawrence Summers, who also oversees the Bureau for Alcohol, Tobacco and Firearms (ATF), and Housing Secretary Andrew
Cuomo were due to announce the move at noon in what the Treasury, in a brief statement, called a ``historic gun announcement''. Treasury officials declined
to comment further.
President Clinton was due to speak on the issue at 2 p.m. (1900 GMT) at the Oval office.
Smith & Wesson, based in Springfield, Mass., is a unit of Britain's Tomkins PLC (TOMK.L).
Summers earlier on Friday canceled a speech in Florida at the annual Futures Industry Association conference because of the event.
Gun control has been a major issue in recent days as the White House and the National Rifle Association have exchanged salvos over the matter.
The latest series of exchanges began on Sunday when NRA Executive Vice President Wayne LaPierre said he believed Clinton tolerated gun killings so as to
exploit them for political gain. The White House has angrily rejected the charge and is pursuing efforts at greater gun control.
President Clinton wants the two houses of Congress to forge compromise legislation to reconcile a Senate bill passed in 1999 with most of the gun control
measures he is seeking with a less stringent House of Representatives version.