10 October 2008

Court Rules Against Akins Accelerator

Not unexpectedly, federal courts have sided with the U.S. BATFE in the Akins Accelerator case. Sadly, investors have lost a ton of money after relying on ATF's initial findings that the device violated no laws.

After it went into production, BATF changed its mind. Dave Hardy has details and a link to a PDF of the court ruling.

Very sad that a federal agency can, at a whim, destroy a company simply by "changing its mind."


Anonymous said...

Sounds like the ruling is legally correct, though it is a shame if the company spent lots of $$$ in reliance on the initial agency ruling.

Brent Greer said...

I concur regarding the ruling, in the most technical sense. But that a federal agency can just have that power on a whim still stinks. The investors specifically asked for a ruling. BATFE gave it. They didn't hurdle themselves pell-mell down the manufacturing path without doing their due-diligence.