Elite Pharmaceuticals Inc (ELTP)

[namtae]

Whatever anyone says, this is not good news for Elite. It may work out ok, possibly, but there appears to be significant downside as well

WHEREAS Plaintiffs Purdue Pharma L.P. and Purdue Pharmaceuticals L.P. (collectively, "Purdue") and Rhodes Technologies ("Rhodes") (collectively, "Plaintiffs") have asserted that Defendants Elite Pharmaceuticals, Inc. ("Elite Pharma") and Elite Laboratories, Inc. ("Elite Labs") (collectively, "Defendants") have infringed fifteen United States patents;

All matters in this Action shall be stayed for six months, with the possibility of further extensions,