Smith & Wesson NRA and NSSF over the issue of smart guns, thousands of retailers and tens of thousands of firearms consumers boycotted Smith & Wesson. CEO Ed Shultz, who negotiated the deal, was forced out in September of that year. By December 2000, the company's stock price was 19 cents per share. Smith & Wesson dropped its smart gun plans after nearly being driven out of business. On May 11, 2001, Saf-T-Hammer Corporation acquired Smith & Wesson Corp. from Tomkins plc for US$15 million, a fraction of the US$112 million originally paid by Tomkins. Saf-T-Hammer assumed US$30 million in debt, bringing the
Smith & Wesson Model 3 gunsmiths to reverse-engineer the Smith & Wesson design, and then began to produce copies of the revolver—both in their own arsenal at Tula and by contracting other manufacturers in Germany and elsewhere in Europe to manufacture copies of the revolver (a common practice at the time—Webley & Scott's British Bulldog revolver was widely copied, too, by European and American gunsmiths). The Russian and European copies of the S&W Model 3 revolver were generally of very high quality, but considerably cheaper than the S&W produced revolvers. This led to the Imperial government cancelling the order for significant quantities of Smith &