I purchased this gun two weeks ago new in the box. I had carried it about two days and noticed the magazine was exposed about an eight inch. I pushed it back in and thought HMM but didn't give it a lot more though. Two days ago I removed my holster from my belt and my magazine was GONE! Looking at the holster I noticed the fabric was half covering the release button. The release is obviously a feather touch that a small piece of material fabric can eject the magazine. This is ridiculous! What's the fix? S&W knows of this problem Im sure.
Anyone else had this problem??

I have heard of that before! I think the guy was using an Uncle Mikes. I could be wrong. Cant remember what forum i saw that on.

My wife's is snug, fits tightly. I always check and make sure that a holster doesn't fit snugly around any protrusions on a fire arm, especially the mag release for this reason. Not just that the mag would fall out but also just come lose and cause a malfunction. This is also the reason I carry a spare magazine. A little late now but Primary Arms just had these magazines on sale for $15.00 but are sold out right now. Check with S&W they might ask for it to be sent back to check it out. This is the second thread about mag problems within a week so others might want to check theirs out. Seems to be a start of a problem on the new BG 380's.

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Psalm 23:4

One fix is to modify the holster (or get a different one) so that it does not cover the mag release button.

I've read about this same problem with the M&P Shield and a Remora holster that landed right on the mag release. The owner contacted Remora and they sent him a new holster that did not cover the button (free--great customer service). Personally I carry a Shield in a Remora that covers the button with no problem, so it really depends on some combination of gun/holster/owner.

My wife and I each have a bodyguard 380. I noticed that a few times a week I would find the magazine partially ejected. Today It happened again. I put it back in then started looking at my holster and thought that the nylon was pushing on the release button. I pulled it out of the holster and wiggled the magazine and found that I can repeatly wiggle it front to rear and release the magazine. I checked out my wife's gun and that one does it too. Both will be going back for evaluation.

I have a De Santis U7 IWB and have carried it daily since I got the BG (about two months ago) and have not had any problems with the magazine release. I carry it probably 16 hours a day and if it was going to eject the magazine, it surely would have by now. You didn't say if it was inside or outside your waist belt. Might make a difference.