Elite Pharmaceuticals Inc (ELTP)

[jour_trader]

Board members are voted in by shareholders. Management supports the presented board member(s). If shareholders vote to the opposite, that is a wake up call to mgmt that their vision doesn’t align with shareholders and they adjust accordingly. This is typically easier to negotiate with large investors as it requires only a few to negotiate with to get a majority. Elite is the same, Nasrat and a few insiders own close to the majority of shares and can do as they please. Shareholder vote from retail holders doesn’t hold much weight unfortunately.