Both began to focus on the weapon that gunman Adam Lanza apparently used for most of his killing. It was a .223-caliber Bushmaster semiautomatic rifle, which traces its origin to the M-16 assault rifle designed for U.S. troops in Vietnam.
The company that manufactures Bushmaster rifles, Freedom Group Inc., had been funded and assembled by Cerberus. After the shootings, Cerberus came under pressure from one of its own major investors: the California State Teachers’ Retirement System.
Late Monday, Cerberus sided with the teachers. The firm announced Tuesday it will sell its stake in Freedom Group, the nation’s largest gun manufacturer.
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