Laidlaw & Company (UK) is being sued by Relmada Therapeutics, Inc. The lawsuit seeks to place a restraining order on the two principals of the UK based investment firm. The accused executives are Matthew Eitner and James Ahern. The two are blamed for spreading false information and wrongful proxy materials which ended up adversely affecting the shareholding position of the biopharmaceutical company, Relmada Therapeutics.
This was the second time Relmada Inc. found themselves in front of a judge. Coincidentally, the defendants and the prosecution sides remained the same in both instances. In other words, Laidlaw was the accused party. Some people speculated that the prime motivation behind the spreading of the malicious information is to orchestrate a takeover of the company.
If the past and precedents are anything to go by then Laidlaw are going to end up being declared guilty of the charges. In the past, they’ve being sued by their clients. They’ve faced regulatory sanctions and other monetary fines for their indiscretions.
The announcement by the courts that they had recognized their request and proceeded to issue an Order came as great news for the CEO of Relmada. Mr. Sergio Traversa remarked that the firm now had ample time to focus on the most pressing issues, for instance, the development of BuTab, an experimental drug.
The mandate of the Order was set to expire on Dec 22, 2015. That is the hearing date of the case. The case order will also be made available on Form 8-K. The form will be forwarded over to the Securities and Exchange Commission.
About Laidlaw LLC
Laidlaw was founded in 1998. It is a leading investment firm registered with the SEC. the company’s core services are to manage the portfolios of their clients. The staff at the enterprise are endowed with the necessary skills and know-how to turn your lackluster portfolio into a winning portfolio. The CEO is Matthew Ahern. Matthew came on board in 2010 and he took over his current position in April 2011. Previously, he worked at Casimir Capital.