Relmada Therapeutics, Inc. (RT), develops unique methods for treating chronic pain. Recently RT filed an amended complaint against Laidlaw and its two main principles, Matthew Eitner and James Ahern. RT has added legal claim that Laidlaw owes them for breach of contract by disclosing confidential information it had as the company’s banker. RT also insists that Laidlaw should reimburse them for any fees and costs arising from the lawsuit, which, if they win seems only fair.
Nevada Courts had previously issued a restraining order and associated injunction against Laidlaw, Eitner and Ahern when it was discovered these bankers had “mishandled” sensitive information. The RT Board says Laidlaw should also be held accountable for other damages incurred by their company as a result of them being its banker. RT is simply looking for a way to recover from Laidlaw’s mismanagement and make legally sure their futures interests are protected.
Relmada Therapeutics mailed a letter to their stockholders to reassure them that appropriate action was being taken and hopes for the future were bright. It’s quite shocking that a banking institution and two of its major players could be caught in such a tangled, legal mess. However, stockholders reaction to the letter was positive and they don’t appear to blame the RT Board for the actions of the Laidlaw firm and its employees, Eitner or Ahern.
Laidlaw and Company (UK) Ltd. is a full-service investment banking and brokerage firm based in New York. They work with private as well as public institutions, plus offer wealth management to many elite individuals in the United States and the United Kingdom. Banking services such as raising capital by placing equity with high end retailers, U.S. trading markets, AIM listed business in the UK market, and acquisition financing are just the beginning of what Laidlaw offers its clients.
All in all Laidlaw presents an acceptable public face. However, according to some, the one they show behind closed doors is quite another. The office atmosphere at Laidlaw has been compared to a frat house party with no rules, and that Laidlaw’s interests will always come before the clients. Granted, this info did come from “former” employees but when more than one person says the same things, if it doesn’t make you think twice, it should.