TASER Inc. – TASER International Receives Notice from U.S. Securities and Exchange Commission (2005-12-13)

Published on December 13 2005 by admin

[[SUMMARY /COMMENTS : This TASER Inc. press-release acknowledges that the staff of the SEC that had been investigating “TASER International’s disclosures concerning the medical safety of the TASER device; and certain accounting and disclosure issues”, although it was not now intending to proceed with any enforcement … This ended later by a $20,000,000 settlement agreement to payout complainants. “The Staff also advised the Company that it is continuing to investigate issues relating to trading in the Company’s stock.”]]

TASER International Receives Notice from U.S. Securities and Exchange Commission

No Enforcement Action Recommended for Accounting and Medical Safety Issues

SCOTTSDALE, Ariz., December 13, 2005 — TASER International, Inc. (NASDAQ: TASR, TASRE), a market leader in advanced electronic control devices today announced that the company has been advised by the Staff of the Division of Enforcement of the U.S. Securities and Exchange Commission (SEC) that the Staff has completed the previously announced investigation into TASER International’s disclosures concerning the medical safety of the TASER device; and certain accounting and disclosure issues. The Staff further advised that it has determined that at the present time it will not recommend that the Commission institute any enforcement proceedings as to any of these matters. The Staff also advised the Company that it is continuing to investigate issues relating to trading in the Company’s stock.

About TASER International, Inc.

TASER International provides advanced electronic control devices for use in the law enforcement, military, private security and personal defense markets. TASER devices use proprietary technology to incapacitate dangerous, combative or high-risk subjects who pose a risk to law enforcement officers, innocent citizens or themselves in a manner that is generally recognized as a safer alternative to other uses of force. TASER technology saves lives every day, and the use of TASER devices dramatically reduces injury rates for police officers and suspects. For more information on TASER life-saving technology, please call TASER International at (800) 978-2737 or visit our website at www.TASER.com.

Note to Investors

This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of the 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. The forward-looking information is based upon current information and expectations regarding TASER International. These estimates and statements speak only as of the date on which they are made, are not guarantees of future performance, and involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results could materially differ from what is expressed, implied, or forecasted in such forward-looking statements.

TASER International assumes no obligation to update the information contained in this press release. TASER International’s forward looking statements in this press release and future results may be impacted by the outcome of the hearing before the NASDAQ Listing Qualifications Panel, completion of the restatement of the Company’s financial results for the first quarter of 2005 and the second quarter of 2005, completion of the review of the Company’s financial results for the third quarter of 2005, risks associated with rapid technological change, new product introductions, new technological developments and implementations, execution issues associated with new technology, ramping manufacturing production to meet demand, litigation results from Company filed lawsuits and other litigation including lawsuits resulting from alleged product related injuries, media publicity concerning allegations of deaths occurring after use of the TASER device and the negative impact this could have on sales, product quality, implementation of manufacturing automation, potential fluctuations in quarterly operating results, adjustments to these amounts which may be reflected in our 10Q filing, competition, financial and budgetary constraints of prospects and customers, international order delays, dependence upon sole and limited source suppliers, negative reports concerning TASER device uses, governmental inquiries and investigations, medical and safety studies, fluctuations in component pricing, government regulations, variation among law enforcement agencies with their TASER product experience, TASER device tests and reports, dependence upon key employees, and our ability to retain employees. TASER International’s future results may also be impacted by other risk factors listed from time to time in its SEC filings, including, but not limited to, the Company’s Form 10-QSBs and its Annual Report on Form 10-KSB.

The statements made herein are independent statements of TASER International. The inclusion of any third parties does not represent an endorsement of any TASER International products or services by any such third parties.

For further information contact Steve Tuttle, Vice President of Communications. Visit the company’s web-site at www.TASER.com for facts and video.

 

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