A man named Ronndale Esporlas filed the lawsuit in Santa Clara County, Calif. and claims that Smith and Walker repeatedly and illegally fired weapons on numerous occasions during a June 2012 party.
The lawsuit also claims Smith and Walker had significant quantities of alcohol and were legally intoxicated. It also said the players knew the handguns were illegally possessed.
Smith had 66 tackles and 19.5 sacks last season for the 49ers, earning first-team All-Pro honors. Walker, a tight end, signed with the Tennessee Titans in the offseason after spending seven seasons with San Francisco.
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Smith and his friends also charged $10 per person to enter the party, according to one of the victims.
Smith and Walker appeared on the balcony of Smith's home to try and end the party and began to fire shots into the air, according to the lawsuit.
The lawsuit claims Walker then made his way to the driveway where he allegedly fired more shots into the air and toward others attending the party.