Elite Pharmaceuticals Inc (ELTP)

[WeeZuhl]

2. Establish the details of the Adderall Purchase Agreement between Mikah and SunGen, including and especially any partners or financing involved.

Elite shareholders are probably not legally-entitled to this information. I'm not a lawyer, so I don't know. Thanks for the links, but I didn't see any mention of our particular situation, where the sole owner of a private company is also CEO of a publicly-traded company, and the two companies do business with each other. Add another layer of concern when the private company starts making secret side deals with a major partner of the public company, including taking over assets of vital importance to the public company. I don't need a link to dummies.com to tell me that is a highly irregular situation. In fact, some might say it has the APPEARANCE OF IMPROPRIETY.

I didn't look for an Investopedia link to support this, but I think as a general rule, publicly-traded companies try to avoid having their CEO involved in highly-irregular situations with the APPEARANCE OF IMPROPRIETY. Also, (again no Investopedia link) I think investment funds tend to shy away from companies who have a CEO doing irregular business deals with the APPEARANCE OF IMPROPRIETY.

My goal is not to convince two private companies to give up information. My goal is to convince the Elite Board of Directors to perform their fiduciary duty to ALL Elite shareholders, not just the biggest shareholder. Let's see what Investopedia says about that...

https://www.investopedia.com/terms/f/fiduciary.asp

What Is a Fiduciary?
A fiduciary is a person or organization that acts on behalf of another person or persons to manage assets. Essentially, a fiduciary owes to that other entity the duties of good faith and trust. The highest legal duty of one party to another, being a fiduciary requires being bound ethically to act in the other's best interests.

Thanks for the reply.