New York’s public advocate is pushing regulators to investigate the gun maker Sturm, Ruger & Company’s disclosures to investors about the risks it faces.

In a letter sent on Tuesday to the Securities and Exchange Commission, Letitia James, the city’s public advocate, said that Sturm, Ruger, the Southport, Conn., maker of rifles, pistols and revolvers, had misled investors about who used its products and had not adequately disclosed the reputational and liability risks it faced.

More and more, shareholder activists are questioning whether the gun companies and the retailers that sell their products adequately represent their reputational risks to shareholders, calling their lack of disclosure of these risks a violation of S.E.C. rules.

“Gun manufacturers must come clean about the dangers posed by their business and the risks it represents for even their own shareholders,” Ms. James said in a statement. “As public advocate, I will continue to pursue every possible avenue to hold those gun makers and sellers accountable.”