Elite Pharmaceuticals Inc (ELTP)

[jgsnys]

Long ago, Nasrat spoke on successive conference-calls of executing a reverse-split "from a position of strength". Currently, the share price is a fraction of what is was when he used such a description. What Nasrat has done in the interim has been ill-advised, self-serving, and utterly feeble. Shareholders might consider themselves lucky that Nasrat hasn't executed in an inspired or energetic manner as such could very well result in even greater losses. One would have to assume that there are lawyers who might think it worthwhile to prove that a consistent pattern of behavior amounting to gross negligence, i.e. "corporate malfeasance", i.e. incompetence and greed arguably so egregious as to merit the designation "criminal" exists.