Relmada Therapeutics recently filed an amendment request to Nevada District Court following an earlier lawsuit against Laidlaw & Co. Relmada, a leading novel producer for chronic pain management, had filed a lawsuit against Laidlaw for what it termed as a breach of a binding agreement between them.
The amendment seeks to hold Laidlaw accountable for all the damages it caused. According to Relamade, it suffered great damages as it tried to clear its name as a result of Laidlaw’s false claims on proxy materials last year. The amendment also seeks an additional claim for Laidlaw’s breach of fiduciary duty. Relmada claims that Laidlaw knowingly released crucial information to the public in its capacity as the company’s investment banker. As a result, the claim will cover the reputation damages caused.
Nevada District Court has already issued summons to Laidlaw’s CEO Mathew Eitner and James Ahern. Relmada’s executive circulated letters to its shareholders informing them of the new development.
About Laidlaw & Company
Laidlaw is a privately-owned company lead by Mathew Eitner and James Ahern. The company has its main headquarters in New York and London. Laidlaw offers financial investment services to clients from the two countries. It is believed that it has close links with Sands Brothers &Co. Some people who had assets in the former own large stakes in Laidlaw.
Laidlaw is also notorious in violating state and federal securities financial regulations. Over 60 clients reported complaints to the company between 2007 and 2009 making it one the companies with the most number of complaints in that time-frame. The company has been subject to a number of FINRA pardons since it started operating.
Controlled by young and fresh minds, you think it is a fresh company that observes morals stipulated in business codes of practice. To the contrary, Laidlaw continues to cause dissatisfaction among its customers.