SCHEDULE 14A (Rule 14a-101) INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant / / Filed by a Party other than the Registrant /X/ Check the appropriate box: / / Preliminary Proxy Statement / / Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) / / Definitive Proxy Statement / / Definitive Additional Materials /X/ Soliciting Material Under Rule 14a-12 ELITE PHARMACEUTICALS, INC. - -------------------------------------------------------------------------------- (Name of Registrant as Specified in Its Charter) THE ELITE VALUE COMMITTEE HARRIS FREEDMAN BRIDGE VENTURES, INC. BRIDGE VENTURES, INC. EMPLOYEE PENSION PLAN SMACS HOLDING CORP. SHARON WILL SAGGI CAPITAL CORP. SAGGI CAPITAL CORP. MONEY PURCHASE PLAN SAGGI CAPITAL CORP. PROFIT SHARING PLAN MICHAEL H. FREEDMAN - -------------------------------------------------------------------------------- (Name of Persons(s) Filing Proxy Statement, if Other Than the Registrant) Payment of Filing Fee (Check the appropriate box): /X/ No fee required. / / Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. (1) Title of each class of securities to which transaction applies:- -------------------------------------------------------------------------------- (2) Aggregate number of securities to which transaction applies: - -------------------------------------------------------------------------------- (3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): - -------------------------------------------------------------------------------- (4) Proposed maximum aggregate value of transaction: - -------------------------------------------------------------------------------- (5) Total fee paid: - -------------------------------------------------------------------------------- / / Fee paid previously with preliminary materials: - -------------------------------------------------------------------------------- / / Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the form or schedule and the date of its filing. (1) Amount previously paid: - -------------------------------------------------------------------------------- (2) Form, Schedule or Registration Statement No.: - -------------------------------------------------------------------------------- (3) Filing Party: - -------------------------------------------------------------------------------- (4) Date Filed: - -------------------------------------------------------------------------------- -2- PRESS RELEASE SOURCE:THE ELITE VALUE COMMITTEE ELITE VALUE COMMITTEE UPDATES SHAREHOLDERS NEW YORK, Oct. 10 /PRNewswire-FirstCall/--The Elite Value Committee confirmed today that its consent solicitation did not receive the votes needed to remove the Board of Elite Pharmaceuticals, Inc. (Amex: ELI-News). Harris Freedman, leading the Committee in its drive to change Elite's Board of Directors, stated "The threshold to win a consent solicitation is very high and we received a large number of votes, but not enough to prevail. The support that we received was extraordinary in the face of Elite's expensive scorched earth campaign. In the final days of the contest, we believe that Elite obtained key support by promising some shareholders that the warrants would be extended, as the Committee proposed, and that three new Board members would be appointed. These promises have not been fulfilled to date. Now the Board has scheduled the annual meeting for December 12, 2002, when it may be too late for a new Board to extend the warrants. The Committee is currently evaluating all of its options." The Committee also announces its victory in the court case brought by Elite in the United States District Court of New Jersey to enjoin the Committee's Consent Solicitation. The Court denied Elite's request for a preliminary injunction. The Committee believes that Elite instituted this lawsuit at substantial expense to the Company in an attempt to prevent stockholders from exercising their right to select directors. Harris Freedman, leading the Committee in its drive to change Elite's Board of Directors, stated "we believe that the case was without merit, and that Elite used all means at its disposal to impede the Committee's intention to seek management changes. By pursuing this frivolous course of action, Elite's principals have squandered valuable resources. We hope that Elite stockholders will view the Court's ruling as vindicating the Committee's right to pursue management change." ON SEPTEMBER 30, 2002, THE ELITE VALUE COMMITTEE (THE "COMMITTEE") FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ("SEC") A PRELIMINARY PROXY STATEMENT IN CONNECTION WITH THE 2002 ANNUAL MEETING OF STOCKHOLDERS OF ELITE PHARMACEUTICALS, INC. THE COMMITTEE WILL PREPARE AND FILE WITH THE SEC A DEFINITIVE PROXY STATEMENT IN CONNECTION WITH THE ANNUAL MEETING. YOU SHOULD READ THE DEFINITIVE PROXY STATEMENT WHEN IT BECOMES AVAILABLE BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION. YOU MAY OBTAIN A FREE COPY OF THE PROXY STATEMENT AND OTHER PROXY MATERIALS WHEN THEY BECOME AVAILABLE AT THE SEC'S INTERNET WEB SITE AT WWW.SEC.GOV OR BY SENDING A WRITTEN REQUEST TO THE ELITE VALUE COMMITTEE, 575 LEXINGTON AVENUE, 4TH FLOOR, NEW YORK, NEW YORK 10022, ATTN: HARRIS FREEDMAN. DETAILED INFORMATION REGARDING THE IDENTITY AND INTERESTS OF INDIVIDUALS WHO MAY BE DEEMED PARTICIPANTS IN THE SOLICITATION OF PROXIES RELATING TO THE ANNUAL MEETING IS AVAILABLE IN THE PRELIMINARY PROXY STATEMENT FILED WITH THE SEC ON SEPTEMBER 30, 2002.
- Company Dashboard
- Filings
-
DFAN14A Filing
Freedman Harris Inactive DFAN14AAdditional proxy materials by non-management
Filed: 10 Oct 02, 12:00am