Fox Business Flash top headlines are here. Check out what’s clicking on FoxBusiness.com.
The National Rifle Association (NRA) touted that it’s in its best financial position in years, despite declaring bankruptcy earlier this month.
CLICK HERE TO READ MORE ON FOX BUSINESS
The nation’s most politically influential gun-rights advocacy group announced on Jan. 15 that it was seeking relief in the United States Bankruptcy Court for the Northern District of Texas, Dallas Division. However, the NRA has said it is looking to re-incorporate in Texas from New York where it has been incorporated for 150 years. The group’s longtime home state has filed a lawsuit to dissolve the organization.
According to a note on the NRA’s website, however, the group isn’t under financial constraints at all.
“Is the NRA going “bankrupt?” a Q&A section on the gun lobbying group’s website read.
The NRA’s response: “No. In fact, this move comes at a time when the NRA is in its strongest financial condition in years.” The group continued, saying “the NRA is not insolvent.”
The NRA’s website alluded to the fact that its decision to file had nothing to do with its financial position at all, but instead the result of a lawsuit against them from the state of New York.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
“This action is necessitated primarily by one thing: the unhinged and political attack against the NRA by the New York Attorney General,” the NRA’s website reads.
In August, New York Attorney General Letitia James’ sued the organization over claims that top executives illegally diverted tens of millions of dollars for lavish personal trips, no-show contracts for associates and other questionable expenditures.

Letitia James, New York’s attorney general, speaks during a news conference in New York on Aug. 6, 2020. (Photographer: Peter Foley/Bloomberg via Getty Images)
The suit highlighted misspending and self-dealing claims that have roiled the NRA and its longtime leader, Wayne LaPierre, in recent years — from hair and makeup for his wife to a $17 million post-employment contract for himself.
James said the group had been “failing to carry out its stated mission” for many years and rather “operated as a breeding ground for greed, abuse and brazen illegality.”
NRA FILES FOR BANKRUPTCY, ANNOUNCES IT’S DITCHING NEW YORK FOR TEXAS
Meanwhile, NRA President Carolyn Meadows had labeled James a “political opportunist” who was pursuing a “rank vendetta” with an attack on its members’ Second Amendment rights.
The move to Texas and the decision to reincorporate as a nonprofit is part of the group’s strategic plan called Project Freedom.
The group claims restructuring is a “proven mechanism for streamlining legal and business affairs” and will ensure its “continued success.”
By moving to Texas, home to more than 400,000 NRA members, the NRA aims to “streamline costs and expenses” while proceeding “with pending litigation in a coordinated and structured manner.”
However, their tactic drew even more criticism from James
“The NRA’s claimed financial status has finally met its moral status: bankrupt,” she said in a statement after their Jan. 15 filing. “While we review this filing, we will not allow the NRA to use this or any other tactic to evade accountability and my office’s oversight.
Although the NRA is headquartered in Virginia, the NRA was chartered as a nonprofit in New York in 1871 and is incorporated in the state.
The Associated Press contributed to his report.
683823 425360I like this internet internet site really considerably, Its a actually good billet to read and obtain information . 489982
927484 827452This will likely be an excellent internet site, may you be interested in performing an interview about how you developed it? If so e-mail me! 785581
707114 511326Id must consult you here. Which is not some thing It is my job to do! I spend time reading an write-up that may possibly get men and women to feel. Also, a lot of thanks for permitting me to comment! 288484
738479 780027Spot ill carry on with this write-up, I truly believe this site requirements a terrific deal far more consideration. Ill oftimes be once a lot more to see far a lot more, a lot of thanks that information. 144429
403238 522903Wow! This could be one particular of the most useful blogs Weve ever arrive across on this subject. Basically Exceptional. Im also an expert in this subject therefore I can recognize your effort. 101020
483153 727331Wonderful post, thank you so much for sharing. Do you happen to have an RSS feed I can subscribe to? 6446
105187 195475Its truly a cool and valuable piece of information. Im glad that you shared this beneficial information with us. Please maintain us informed like this. Thanks for sharing. 317589
3103 562553Respect to site author , some very good selective details . 496444
535579 867483Thank you for this fantastic post! It has long been incredibly useful. I wish which you will carry on posting your expertise with us. 713421
870914 556725How significantly of an unique write-up, maintain on posting far better half 243601
262647 293033Wow Da weiss man, wo es hingehen muss Viele Grsse Mirta 30999