NRA files for bankruptcy - CNN - 0 views
-
The National Rifle Association of America, the nation's foremost gun lobby, has filed for bankruptcy
-
The group said it plans to leave New York State, where it was founded in 1871, and reincorporate as a Texas nonprofit in a move it is calling "Project Freedom,"
-
New York Attorney General Letitia James filed a lawsuit in August accusing the NRA's senior leadership of violating laws governing nonprofit groups and using millions of dollars from the organization's reserves for personal use and tax fraud.
- ...5 more annotations...
-
In response, the NRA filed a countersuit alleging the attorney general was hampering the group's First Amendment rights.
-
"while we review this filing, we will not allow the NRA to use this or any other tactic to evade accountability and my office's oversight."
-
The NRA said Friday it is in its "strongest financial condition in years," but the restructuring will help to "streamline costs and expenses."
-
The largest creditor listed on the NRA's bankruptcy filing is its former advertising firm, Ackerman McQueen, with which the NRA has been in a contentious legal battle after nearly 30 years in business together.
-
"The NRA, a get rich quick scheme for its executives that pushed positions wildly out of step with gun owners, is collapsing, just as Congress readies to vote on a comprehensive background checks proposal with 90% public support,"