Replies to post #438986 on Elite Pharmaceuticals Inc (ELTP)

[jour_trader]

Just because there is no SEC filed document doesn't mean documentation doesn't exist. 
Per a prior CC, Carter did state Elite could not have pursued ownership at that time. The depth of investigation of options is the question knowing Nasrst was the Chair, President & CEO. He's also a lawyer and his recommendation carries significant weight.  

[namtae]

Go review the corporate opportunity doctrine and let me know if your opinion changes

NO, IT WAS NOT. iT WAS ONLY MIKAH AND SUNGEN. Elite had no dealing with the sale. Why would Elite be involve? As CEO of Eltp, yes he knew what he was doing, but I don't believe it was offered to Elite, no records or written statement had said that, it was hearsay.

The corporate opportunity doctrine is a legal principle that requires corporate fiduciaries (like officers and directors) to present a business opportunity to the corporation before taking it for their own personal gain. This duty is a subset of their broader fiduciary duty of loyalty and aims to prevent them from abusing their position for personal profit. To avoid liability, fiduciaries must first offer the opportunity to the corporation, which then can choose to pursue it or reject it.

So you still insist it wasnt offered to Elite? Uh oh