At the beginning of 2016, a well-known clinical state company filed an amended complaint against Laidlaw & Company. This company is Relmada Therapeutics, Inc. which develops novel therapies for treating chronic pain. It happened in the District of Nevada where Relmada Therapeutics, Inc. filed the complaint in the United States District Court. In my opinion, this motion is a part of the lawsuit which Relmada Therapeutics, Inc. earlier filed in the same court. It is based on the breach of duty by Laidlaw & Company. Relmada claims that Laidlaw intentionally disclosed the confidential information which it received as Relmada’s investor. What more I came to know is that Relmada also seeks financial damages which it is facing due to this lawsuit. Relmada claims that in the December 2015, Laidlaw used misleading and false documents about their company.
I also found out that Nevada District Court earlier issued a restraining order prohibiting Laidlaw’s principals’—James Ahern and Matthew Eitner—for spreading misleading and false proxy materials. My opinion is that the Board of the Directors of Relmada believes that they suffered due to the actions of Laidlaw. Therefore, the UK-based investment company must compensate them for the all the damages, and it must be prevented from bothering them afterward.
I am quite surprised to know this information because Laidlaw & Company enjoys a great repute. They are providing transparent and independent financial advice for over one hundred and seventy years. Many institutional and individual clients seek their services for alternative and traditional investment solutions. Laidlaw has offices in Europe and the United States with a staff of over one hundred and fifty people. The FINRA registration and dual FAC authorization allows Laidlaw to serve global clients, pursue new businesses and develop relationships. I like the entrepreneurial culture and strong work ethics of this firm, but what it has done to Relmada is regretful.