Supreme Court questions Mexico’s gun maker lawsuit, Bloomberg reports

The U.S. Supreme Court indicated it will likely dismiss a lawsuit filed by the Mexican government against gun manufacturers, including Smith & Wesson Brands (SWBI), over allegations of aiding the flow of firearms to the country’s violent drug cartels, Bloomberg’s Greg Stohr reports. During Tuesday’s arguments in Washington, justices across the ideological spectrum signaled they may reinforce the industry’s liability protections by interpreting a 2005 federal law as blocking Mexico’s lawsuit, with Justice Ketanji Brown Jackson saying the 2005 law was in part “about Congress protecting its own prerogative to be the one to regulate this industry.” She said the Mexico lawsuit risked “running up against the very concerns that motivated this statute to begin with.” Other companies in the gun space include Sturm, Ruger (RGR), American Outdoor (AOUT), and Vista Outdoor (VSTO).