Relmada Therapeutics has recently filed a lawsuit against Laidlaw & Company. Relmada is a pharmaceutical firm that focuses in production of novel therapies for the treatment of chronic pain. The new motion aims at piling more charges against Laidlaw as a result of breach of duty owed to the clinical firm. Furthermore, Relmada seeks financial damages arising from costs incurred responding to defamatory statements.
The Nevada court issued an injunction against Laidlaw’s directors, James Ahern and Matthew Eitner from disseminating misleading information. The plaintiff is of the opinion that Laidlaw must reimburse the company for damages suffered. Furthermore, Laidlaw should restrain from damaging the reputation of the firm in future.
Business Relationship between Laidlaw and Relmada
Laidlaw has served as the firm’s main investment banker since 2011. Furthermore, the company also served as a financial consultant in Relmada’s merger with Camp Nine, Inc. This partnership led to the inception of Relmada as a public company. As the relationship progressed, the two enterprises discussed the possibilities of attracting new sponsors. However, poor interactions with investors and a botched road show performance led to the termination of further business talks.
The current standoff between the two firms can be traced back to a disagreement on the election of Relmada Board directors. Misleading information from Laidlaw has significantly affected the company’s reputation in all aspects. It is high time they are penalized for their wrongdoing.
Laidlaw is plagued by a long list of aggrieved customers from various Counties. For instance, the company received more than 60 customer complaints for damages between 2007 and 2009. In addition, the firm failed to implement procedures and policies pertaining to rules about anti-money laundering.
About Laidlaw & Company
Laidlaw & Company is a brokerage and investment firm that offers venture advice to influential personalities and corporations. Headquartered in New York, the firm operates locally and in the U.K. Future plans are in place to open subsidiaries in other countries. Laidlaw focuses in divestitures, financial restructuring, acquisition financing and public offerings.
I strongly believe that Laidlaw should hold unscrupulous employees accountable for crimes committed. It is advisable to employ individuals of good character in an effort to promote integrity within the workplace.