Letitia James, New York's Attorney General said on Thursday that a lawsuit has been filed by her office against the National Rifle Association along with its leadership with the intention of dissolving the organization, according to Fox News.
James said the organization has a “culture of self-dealing,” and collects millions of dollars for granting contracts and personal use for the benefit of associates and family of the leaders.
The organization’s vice president, Wayne LaPierre is among the leadership hit with the lawsuit.
"The NRA's influence has been so powerful that the organization went unchecked for decades while top executives funnelled millions into their own pockets," said James in a statement. "The NRA is fraught with fraud and abuse, which is why, today, we seek to dissolve the NRA, because no organization is above the law."
After James' statement, gun stocks rose on the stock market.