TASER says SEC ends probe, recommends no sanctions
The Associated Press
SCOTTSDALE, Ariz.- Taser International Inc. on Tuesday said the Securities and Exchange Commission completed an investigation of the stun-gun maker and did not recommend any sanctions.
Regulators have been examining Taser's claims about the safety of its stun guns - which have been blamed for a growing list of accidental fatalities _ as well as its accounting of a $1.5 million order at the end of last year.
In a notice sent to Taser, the SEC said it will not recommend any enforcement proceedings related to the company's safety claims but will continue a probe into trading of Taser's stock.
Taser shares jumped on the news, climbing 93 cents, or 15.2 percent, to $7.05 during premarket activity. About a year ago, Taser's stock reached a high of $33.45.