Volume Spike… TASER 52-Week Lows On Court Loss (TASR)

Posted in General 
June 9th, 2008

TASER International, Inc. (NASDAQ: TASR) is seeing a volume surge in pre-market trading that is taking shares lower this morning.  The TASER device maker announced over the weekend that a jury verdict in United States District Court for the Northern District of California in the case of Betty Lou Heston, et al. v. City of Salinas, TASER International, Inc., et al. found that the extended duration of a TASER ECD contributed 15% to the death of Robert C. Heston on February 19, 2005.

While the jury attributed 85% of the cause of death to the actions of the decedent, the jury awarded $1,021,000 in compensatory damages and $5,200,000 in punitive damages against TASER International based on alleged negligent failure to warn. The jury verdict was delivered Friday evening.

The last trade on TASER stock was $6.38 on roughly 85,000 shares pre-market (as of 8:50 AM EST), down from the $6.90 close.  Unfortunately this will be a 52-week low as the prior 52-week trading range was $6.83 to $19.36.

As a reminder, there are procedures called appeals.  California verdicts are also known for large nominal awards that are then lowered or overturned, although no one can make that prediction ahead of time.

Jon Ogg
June 9, 2008

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