The Lawsuit Against Laidlaw
A company y the name Relmada Theurapitics Inc. made an announcement that it was filing a motion so as to amend its complaints against Laidlaw& Company on a press release through PRNewswire. It stated that it filed this motion in the United States District Court. The complaint consists of the additional legal claim that is based on breach of the fiduciary duty by Laidlaw. It is part of the lawsuit that Relmada had filed in the Nevada District Court. It is believed that Laidlaw disclosed information that was confidential. The information was gotten when Laidlaw was the investment banker of the company.
The Court had issued a restraining order and linked injunction against Laidlaw, James Ahem, and Mathew Eitner. These are the principals of Laidlaw. It is said that they distributed misleading and false proxy materials. I firmly believe that Laidlaw must give compensation to the company as a result of the damages it has suffered due to these actions. I believe that Laidlaw should be forbidden from causing harm to the enterprise in future. The company also drafted a letter to stockholders to let them know about the action that the firm had taken to guard their interests.
Laidlaw is a brokerage and investment firm. Laidlaw was formerly known as Sands Brothers International Ltd. James Ahern is the Managing Partner and the Head of Capital Markets for Laidlaw at the age of 36 years. He has been in the field of financial services since 2003. He had a number of lawsuits made against him during this period. James works with his co-principal Mathew Eitner at Laidlaw. James is also said to have listed wrong education background on his resume. He later confirmed that the institutions which accused him had no solid information and records of him.
Laidlaw is well known for its skill in managing its clients’ financial needs in a variety of ways. However, a recent lawsuit brought up by our client, Relmada Therapeutics, Inc. may have some people a little concerned about us. This unfortunate lawsuit has been filed against our two principals, Matthew Eitner and James Ahern, and alleges that we breached our fiduciary duty by disclosing confidential information.
These unfortunate allegations have caused us to take a strong look at the way we operate. Is there any truth to the claims made against us by Relmada? Happily, our investigation has revealed no wrongdoing by our principals, but indicates that Relmada is primarily seeking damages from us based on what they believe was damaging information.
Relmada Therapeutics Files Amended Complaint Against Laidlaw and Its Principals, Matthew Eitner and James Ahern
We’re not here to throw Relmada under the bus or to point fingers in anyone’s direction. That’s not the way we work at Laidlaw. In fact, when Relmada came to us with concerns in December 2015, we met with them to discuss them in a civil manner. And we came away from the meeting pretty confident of our success and proud of what we had accomplished with them.
Unfortunately, it appears that Relmada did not reach the same conclusion. This is a good indicator of the way that people, and even corporations, simply don’t see eye-to-eye sometimes, even when both are working for the common good. We certainly didn’t do anything that would put Relmada at a disadvantage, and are sure that they are behaving in the same way.
It’s a testament to human decency that things have remained at a reasonable level between our two companies during this process. As we work hard to figure out how to resolve this thing, let it serve as a reminder of the ways that people can work together to accomplish something good. We truly believe that we will find a solution to this situation that pleases everyone.