Lawsuit against Laidlaw & Company

Laidlaw was the investment banker of Relmada Therapeutics and its placement agent in December of 2011 and May of 2014. During Relmada’s merger with Camp Nine, Inc., Laidlaw served as its financial advisor. However, in 2015 a dispute arose between the two parties after Relmada requested Laidlaw to organize a non-deal show to attract new investors. Laidlaw did as directed by Relmada and engaged in confidential discussion with Relmada’s management regarding prospects and their business. Over the years, Laidlaw introduced new institutional investors to Relmada

Lawsuit Filed Against Laidlaw

It surprises to find that Relmada filed a lawsuit against Laidlaw for breaching a contract on institutional investors’ interaction and capital raising efforts. According to me, Relmada did its part in reaching out to Laidlaw and arrived at an agreement in December of 2015. The meeting was attended by Messrs. James Ahern and Matthew Eitner along with Ben Snedeker the former CEO of Laidlaw and two directors of Relmada. Messrs. Ahern and Eitner demanded the power to appoint Relmada’s Board Directors and later on a press release announced that they had appointed five directors and taken over the leadership of the company. As a result, the court issued a temporary restraining order demanding further amendments on the complaint against Laidlaw. A motion including the additional legal claim against Laidlaw’s breach of fiduciary duty was filed.

Laidlaw & Company

Laidlaw is a brokerage and investment firm that initially functioned under the name Sands Brothers International Ltd. Matthew D. Eitner is the CEO while James P. Ahern is the Managing Partner of Laidlaw & Company. The company has a growing network of offices in Europe and the United States. Currently, Laidlaw & Company has employed over a hundred people across the world and governed by FINRA registration and FCA authorization.