Smith & Wesson M76 Smith & Wesson M76 The Smith & Wesson M76 submachine gun was produced by Smith & Wesson from 1967 to 1974. It is an adaptation of the Swedish Carl Gustav m/45 with an open bolt design and fires 9x19mm Parabellum ammunition. In 1966, the Swedish government blocked the sale of firearms to the United States because it opposed the Vietnam War. This created a problem for the Navy SEAL Teams which were using Swedish-made m/45 submachine guns in covert operations in Southeast Asia. Noting this, Smith & Wesson began to produce the M76 (an m/45 clone), which was ready for
Smith & Wesson production equipment and instituted additional testing which significantly increased product quality. However new gun sales in the United States lagged in the 1990s, some of which was attributed to the Federal Assault Weapons Ban of 1994. Also there were numerous city and state lawsuits against Smith and Wesson. After the success of the Tobacco Master Settlement Agreement, municipalities thought they might be able to succeed through tort law against the gun industry as well. These political and legal challenges provided a lot of risk and uncertainty for Smith and Wesson's future. On March 17, 2000, Smith & Wesson made an