Ruger responds to Beretta's proxy fight, details alleged demands for discounted stock and board control

STURM RUGER & CO INC

Beretta (7.7% holder) nominated four directors; Ruger says Beretta demanded 25% ownership at 15% discount and disproportionate board seats.
Ruger adopted short-term stockholder rights plan on Oct 14, 2025 to counter Beretta's creeping takeover.
Ruger alleges Beretta's demands violate U.S. antitrust laws and trigger CFIUS review; Beretta threatened to 'go to war'.
Ruger appointed three new directors on Feb 23, 2026 as part of board refreshment begun before Beretta's investment.
Beretta refused to pause share accumulation and initially declined in-person meetings, Ruger claims.

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