This is not good not good at all.....I sure am glad I got stopped out of the last of my shares at $20....
<<UPDATE 1-Taser stock falls as Chicago Police halts roll-out
Fri Feb 11, 2005 12:35 PM ET
(Adds details, police quote; updates share price)
NEW YORK, Feb 11 (Reuters) - Shares of Taser International Inc. (TASR.O: Quote, Profile, Research) fell to a seven-month low on Friday after Chicago's police chief called for a halt on distributing more of the company's stun-guns.
News for TASR.O
UPDATE 1-Taser stock falls as Chicago Police halts roll-out
Taser stock falls as Chicago Police halts roll-out
U.S. stocks end slightly higher, helped by Pfizer
The call from Chicago Police Superintendent Philip Cline comes after a 54-year-old Chicago man died on Thursday after police shot him with a Taser weapon. Earlier this week, a 14-year-old Chicago boy went into cardiac arrest after being hit by a police Taser.
Cline called for a delay in the planned distribution of 100 Tasers to city police officers while the department investigates the Taser-related incidents, according to a spokesman for the Chicago Police. Cline said use of the 200 Tasers the department already has should continue.
"Based on what we experienced this week, we are going to delay the extension (of Taser use) pending the outcome of these investigations," said Chicago police spokesman David Bayless.
Chicago's delay comes as Taser is struggling to land new orders as law enforcement agencies nationwide take time to conduct their own tests and try competing products.
It also adds to the debate over the safety of Taser weapons, which disable victims with a 50,000-volt shock.
Human rights group Amnesty International says the stun-guns have contributed to more than 70 deaths over the past few years, while the company maintains the weapons are safe and actually save lives, when used as an alternative to conventional guns.
Federal tests have not yet progressed far enough to offer conclusive evidence on the safety of the weapons.
The company is the subject of a Securities and Exchange Commission inquiry into executives' public statements on the safety of its products. A welter of shareholder lawsuits against the company claims executives deliberately played down the risks of its weapons to pump up the company's shares.
Taser did not return a call seeking comment.
Taser shares fell $1.31, or 9 percent, to $13.11 on Nasdaq. The stock is down 61 percent from highs hit in late December.
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