Elite Pharmaceuticals Inc (ELTP)

[WeeZuhl]

but that all begs the question why even worry about it at this point.

This is not a nothing burger. The company would not be going through the expense, trouble, and embarrassment of redoing the vote for no reason. Let me give my take on why what happened is a real legal liability and why the vote must be redone.

For: 823,661,691
Against: 50,567,241
Abstain: 3,757,408


I did not vote my 2.35 million shares. I strongly believe not voting is a vote, especially when the results of an election are a fore-drawn conclusion. Declining to participate in a pre-ordained election is a statement. Shareholders were specifically informed by the company that if no instructions were provided then no vote would be recorded, and that was my intention. But apparently it did not happen that way. It seems very unlikely that my 2.35 million "non-votes" are recorded in the 3.75 million absentiontions. It looks like somebody voted my shares in the affirmative. I could wait until Nasrat converts, merger proposal, whatever I wanted to wait for, then start a shareholder lawsuit. It would not be difficult to find an attorney or prove what happened to my 2.35 million non-votes, as well as everyone else in the class action. Maybe nothing would happen in the end, but it would definitely delay things and scare away suitors. It would be a disaster, and I'm just the kind of prick to do something like that. So, please, let's dispense with the idea that the company is going through this humiliating and expensive process out of an abundance of caution. They are doing this because they screwed up in an unfair, unjustifiable way that has very serious implications for the future of the company. They have to fix it, no other choice.