Replies to post #163835 on Elite Pharmaceuticals Inc (ELTP)

[WeeZuhl]

I call it fraud!

And as many others have already pointed out- it would be fraud, if it were untrue. One might not like the way the numbers were released or why, but it is a different ballgame to say the numbers are made up or he did it for some kind of sole personal gain (as opposed to all shareholders). If he is saying a true thing publicly, it is not fraud and does not approach fraud.

[Aqua]

All it comes down to is a matter of perception. All stocks are frauds and based on hype. The skilled, savy investors know when to hold'em and know when to fold'em when the dealing is done.

Cheers!

[no2koolaid]

Calling the valuation a fraud fails the test of reality. As per US Code, Title 18, Part 1, Chapter 47, Section 1001, an intentional statement meant to deceive, made by any person acting as an agent of a firm, would be a FELONY punishable by up to seven years in prison. Here is the link...
https://www.law.cornell.edu/uscode/text/18/1001

But, for anyone familiar with what this might suggest, since the valuation was referred to by multiple people within Elite, it is much more messy. I was saving this because it is the "nuclear option" for federal prosecutors - Federal Conspiracy Laws...Here is the link...http://fas.org/sgp/crs/misc/R41223.pdf And, to be sure, most people, including executives (think Enron, Tyco, Global Crossing, WorldCom), do not know this applies. But I do.

And, let's consider how simple it is to establish the fact of the verification of a valuation... In its accounts payable files, Elite would have evidence of payment to the valuation firm...PERIOD!

Again, facts are stubborn.

[no2koolaid]

Misinformation, if not inaccurate reading of the law.