SIG SAUER FACING NEW LAWSUIT INVOLVING P320 PISTOL
Firearms manufacturer SIG Sauer is facing yet another lawsuit brought by 20 people — including federal agents, police and civilians — who say they were injured when the company’s model P320 pistols fired without a trigger pull.
The suit is the latest in a series of legal complaints filed against the company, each claiming the pistol has a design flaw that leads to unintentional discharges of the firearm, occasionally while holstered. Plaintiffs are calling for the gunmaker to make safety design changes.
The Union Leader reported that the new suit was filed last month in U.S. District Court in Concord by attorneys with a Philadelphia-based law firm. It alleges the P320 is “the most dangerous pistol sold in the United States market.”
Attorney Robert J. Mongeluzzi said after every lawsuit his firm files, “more and more users have contacted us regarding their injuries from unintended discharges of their P320s.”
In a written statement, SIG Sauer responded to the latest lawsuit by reiterating its stance that the “P320 is designed to fire when the trigger is pulled.”
PRIMARY BANK RANKED NO. 1 AMONG NORTHEAST BANKS
S&P Global Market Intelligence has ranked Bedford-based Primary Bank as the top performer in the region among banks with assets under $10 billion.
The rankings are based on returns, growth and efficiency, but primarily on the strength and risk profile of the bank’s balance sheets, according to S&P Global, which ranks the country’s best performing banks and credit unions annually.
Primary Bank opened in 2015 with its Bedford flagship and corporate headquarters, focusing on lending to businesses. It added branches in Manchester in 2019, Derry in 2020 and Nashua in 2022.
As of Dec. 31, Primary Bank’s total assets stood at $653.9 million, according to S&P. Its full-year net interest margin was 3.86 percent, compared to with 3.49 percent in 2021.
JAFFREY MEDICAL EQUIPMENT PRODUCER TO EXPAND
Teleflex Medical, a medical equipment manufacturer in Jaffrey, plans to grow its production capabilities by the end of the year.
The division of Wayne, Pa.-based medical device company Teleflex will add a new plastic processing area to its plant at 50 Plantation Drive, The Keene Sentinel reported.
The $12 million development will be a roughly 62-foot-tall tower, joining two other towers at the plant. The new tower will span more than 8,200 square feet.
The project will add 11 more extrusion lines. The company largely produces extrusions made from polytetrafluoroethylene (PTFE), more commonly known as Teflon, and from fluorinated ethylene propylene (FEP), sold under brand names like Teflon FEP, Neoflen FEP and Dyneon FEP.
The company has hired Waltham, Mass., contractor Vantage Builders for the construction and worked with Hollywood, Fla.-based engineering consultant NV5’s branch in Andover, Mass., for project design.
SECURITIES BUREAU FILES ACTION AGAINST MASS. MEDICAL PRODUCTS FIRM
The Secretary of State’s Bureau of Securities Regulation has started an action against Massachusetts-based Advent Medical Products Inc. and its majority owner, Randall Fincke of Lincoln, Mass., for alleged investor fraud and for selling unregistered securities.
Fincke is Advent’s chief engineer, president, treasurer, secretary, CEO, chief financial officer and director. Before forming Advent, the bureau said, he was found liable for stealing trade secrets and for committing investor fraud in Massachusetts at two separate companies unrelated to Advent. The Bureau alleges that Fincke committed investor fraud in New Hampshire by failing to inform New Hampshire investors of these actions when he offered them securities in Advent.
The bureau alleges that, since at least 2011, Fincke has misled New Hampshire investors and potential investors by claiming Advent’s automated external defibrillators would be available for purchase soon. Advent has never brought any of these products to market. At least one New Hampshire investor relied on these statements when he purchased Advent securities.
