Elite Pharmaceuticals Inc (ELTP)

[WeeZuhl]

Maybe you should consider a hobby.

Like every morning - I google ELTP then Dexcel

In the meantime, here is some news that will actually help you. Enjoy and have a great day.

https://www.forbes.com/sites/anatalonbeck/2024/01/31/a-558-billion-lesson-in-the-entire-fairness-doctrine/?sh=694b35fb4382

A $55.8 Billion Lesson In The Entire Fairness Doctrine
Anat Alon-Beck
Jan 31, 2024,08:00am EST

The entire fairness standard is a Delaware corporate law special. It is at the core of the Delaware General Corporate Law (DGCL) and the surrounding precedent and has been accurately described as the “most onerous standard of review.” To even get to the point where entire fairness is triggered, a plaintiff must demonstrate that a majority of the directors of a company are “interested” in the transaction; in other words, not independent. Alternatively, if a plaintiff can show that a controlling shareholder is on both sides of a transaction, entire fairness can also be triggered. Once that very high threshold is met, the burden shifts entirely to the defendant board to demonstrate the transaction is inherently fair to the stockholders. And they have to demonstrate this in both the procedure and in substance itself of the deal. This is typically accomplished by a so-called “majority of the minority” vote: if independent directors present to the non-controlling shareholders the transaction in question and a majority of these shareholders ratify the deal, the deal is likely to not be reviewed by the court.