Replies to post #315659 on Elite Pharmaceuticals Inc (ELTP)

[The ELTP King]

Too late.

We already signed the contract with Trashcan Lannett.

Nasrat failed to do due diligence.

I think we need a new partner.

[dr_lowenstein]

makes Teva look like a bunch of choir boys

[no2koolaid]

I think we need a new partner. Looks like State and Federal charges.

As a legal contract cannot be voided without cause, what would be the basis for voiding the partnership?

The boilerplate issues that would allow for the termination of the contract would include: 1) misrepresentation of material facts that would reflect unfavorably on Elite or impair Lannett's ability to conduct business, thus impairing Elite and 2) performance issues...the partnership did not perform as expected under some established parameters.

Please remember that, despite whatever their legal backgrounds might entail, Elite would have an outside counsel review any partnership contracts and ensure all safeguards were in place to protect Elite.

[dangerx]

Give us Amneal!!!