Federal Trade Commission Dismisses Antitrust Complaint Against Axon

Rhea-AI Summary

FTC dismisses enforcement action against Axon following Supreme Court decision

Positive

• Axon's constitutional challenges to the FTC's structure were recognized by the Supreme Court as 'existential'

Negative

• None.

Unconditional dismissal follows Supreme Court's historic decision to allow Axon's constitutional challenges to the FTC's structure to proceed in federal court

SCOTTSDALE, Ariz., Oct. 9, 2023 /PRNewswire/ -- The Federal Trade Commission (FTC) has dismissed its administrative enforcement action against Axon Enterprise Inc., (NASDAQ: AXON), the global public safety technology leader, regarding Axon's 2018 acquisition of failing body camera competitor Vievu. This action follows Axon's unanimous U.S. Supreme Court victory in April confirming federal court jurisdiction over its constitutional challenges to the FTC's structure—claims the high Court recognized as "existential."

"The FTC's unilateral dismissal, intended to moot Axon's advancing constitutional claims in the District of Arizona, will result in a global resolution of both cases," said Pam Petersen, Axon's Vice President of Litigation and counsel of record for Axon in both the administrative and federal cases. "We intend to file a stipulation to dismiss our federal claims on Tuesday, ending this 5-year battle to protect our intellectual property and our investors."

"As I said from the beginning, no one should ever face the prospect of a government that can demand to seize your most precious assets without the ability to defend yourself in a fair and impartial court of law," said Axon Founder and CEO Rick Smith. "We made it clear that we were prepared to take the merits of our constitutional claims right back to the Supreme Court, and I'm exceedingly proud of our legal team and the inroads we forged that will now allow others to press these critically important due process and separation of powers issues to ultimate resolution. We at Axon remain laser focused on our mission to protect life."

"Competition in the body camera space has always been vigorous and is more so today than ever," said Isaiah Fields, Axon's Chief Legal Officer. "Axon's success is attributable to high-quality products and services, its significant investment in cutting-edge technology, and the company's commitment to its customers and to public safety."

For more information and the history regarding these proceedings, please visit, axon.com/ftc.

ABOUT AXON
Axon is the technology leader in global public safety. Our Moonshot goal in the US is to cut gun-related deaths between police and the public by 50% before 2033. Axon is building the public safety operating system of the future by integrating a suite of hardware devices and cloud software solutions that lead modern policing, defense and security. Axon's suite includes TASER energy devices, body-worn cameras, in-car cameras, cloud-hosted digital evidence management solutions, productivity software and real-time operations capabilities. Axon's growing global customer base includes first responders across international, federal, state and local law enforcement, fire, corrections and emergency medical services, as well as the justice sector, commercial enterprises and consumers.

Learn more about our Moonshot at thisisourmoonshot.com or email moonshot@axon.com.

Axon and Protect Life are trademarks of Axon Enterprise, Inc., some of which are registered in the US and other countries. For more information visit www.axon.com/legal. All rights reserved.

Follow Axon here:

• Axon on Twitter: https://twitter.com/axon
• Axon on Facebook: https://www.facebook.com/Axon.ProtectLife/

Note to Investors
Please visit http://investor.axon.com, https://www.axon.com/press, www.twitter.com/axon_us and https://www.facebook.com/Axon.ProtectLife/ where Axon discloses information about the company, its financial information and its business.

MEDIA CONTACT:
Alex Engel
Vice President, Corporate Communications
Media ONLY Hotline: (480) 444-4000 OR Press@Axon.com

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SOURCE Axon

FAQ

What was the outcome of the FTC's enforcement action against Axon?

The FTC dismissed its enforcement action against Axon.

What did the Supreme Court decide regarding Axon's constitutional challenges?

The Supreme Court allowed Axon's constitutional challenges to proceed in federal court.

What is Axon's response to the dismissal?

Axon intends to file a stipulation to dismiss their federal claims on Tuesday.

What is Axon's focus moving forward?

Axon remains focused on their mission to protect life.