Relmada Therapeutics is filing a lawsuit against Laidlaw and Company, its former investment banker. Relmada is also suing the two principals of the firm, James Ahern and Matthew Eitner, accusing them of misusing the company shares and confidential information to instigate a hostile bid for the enterprise. The lawsuit’s agenda is to enjoin Laidlaw’s intentions of continuing to propagate false and misleading information including soliciting proxies from the company’s stockholders through false pretenses. The aim of the lawsuit is to correct the already issued misinformation.
In addition to the claims of breaching the contract and using false information acquired from Relmada during its service as the company’s investment banker, Relmada is in a quest for monetary damages rooting from costs incurred from issuing a response to the false and misleading information released in December 2015. According to Relmada, the Court of Nevada had dictated a temporary restraining order linked to the injunction of Laidlaw and its two principals. The Board of Relmada believes that Laidlaw should compensate the firm for damages caused by Laidlaw. The demand is to prevent Laidlaw from causing the same hard to other companies in future.
Led by two principals Matthew Eitner and James Ahern, Laidlaw & Company is an investment banking and brokerage firm that provides investment banking and management of wealth services to many companies including public and private companies. Laidlaw offers careful and skillful financial services concerning investment to high net worth investors. The company seeks to preserve its reputation through diversification. They provide services in asset allocation including security selection because it is the vital determinant of the company’s performance. Laidlaw aims to help maximize the client’s return potential by allocating the customer’s money in a chosen set of assets. The team manages client’s exposure to investment risk.