This ballot initiative was two months before the NRA filed for Chapter 11, so I'd expect their spending was constrained.
This ballot initiative was two months before the NRA filed for Chapter 11, so I'd expect their spending was constrained.
By "hostile regulatory environment" it is meant that they allegedly committed fraud against their donors and the (Democratic) attorney general is going after them for the breaking law:
* https://www.npr.org/2020/08/06/899712823/new-york-attorney-g...
Some donors also think this:
* https://www.theguardian.com/us-news/2021/jan/16/nra-donor-ba...
And the NRA has admitted that such things happened in certain circumstances:
* https://thehill.com/business-a-lobbying/business-a-lobbying/...
With NRA CEO Wayne LaPierre paying back $300K:
* https://www.rollingstone.com/politics/politics-news/nra-chie...
See also the IRS investing LaPierre for possible criminal tax fraud related to his personal finances:
* https://www.wsj.com/articles/irs-investigating-nras-wayne-la...
In this most recent investigation, the remedy sought is politically motivated. If the AG were interested in protecting and vindicating the wronged donors, a more apt remedy would be to disgorge the ill-gotten gains and remove those responsible from the organization. Instead, the AG is trying to destroy the organization, which probably isn't what the people who donated to the NRA want.
There's also the issue of the governor, Andrew Cuomo, trying to use regulatory authority to blackmail financial institutions into not doing business with the NRA. https://subscriptlaw.com/nra-suit-against-ny-and-cuomo-expla...
That's part of the asked-for remedies as well.
* PDF: https://ag.ny.gov/sites/default/files/summons_and_complaint_...
* https://ag.ny.gov/press-release/2020/attorney-general-james-...
And folks have tried to fix it up: Oliver North (of all people) went after LaPierre to route out corruption and lost. The NY AG is arguing that at this point it is irredeemable and should be nuked from orbit.
Whether the court agrees is another matter.
[0] https://bearingarms.com/cam-e/2021/02/01/biden-admin-fair-ac...