Elite Pharmaceuticals Inc (ELTP): You can't just vote someone on a board....

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Re: hyder post# 256754

Thursday, 05/18/2017 10:53:29 PM

Thursday, May 18, 2017 10:53:29 PM

You can't just vote someone on a board. For companies to expand their board, board approval must be given. Shareholders vote for the company's recommended Board members periodically. If another investor wants to make a board seat recommendation that differs from the Board's recommendation, this becomes an incredibly expensive proxy war that can easily cost many millions. The client I consult for is going through this now with an aggressive activist investor.

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