Healthcare Company Adjusts Its Lawsuit Against Laidlaw

 

Healthcare treatment development company Relmada Therapeutics has just made an adjustment to its lawsuit against Laidlaw and Company in the Federal District Court of Nevada. Laidlaw Ltd. was the investment banking firm that put up shares of Remalda Therapeutics for sale in 2011 and again in 2014. Remalda’s board of directors recently filed a lawsuit against Laidlaw for doing an unsatisfactory job of finding investors to raise capital for the company’s business activities.
Now Relmada’s board of directors are also claiming that Laidlaw spread false proxy materials about the company. Laidlaw misrepresented the finances of Relmada in a public statement. The investment bank also violated the responsibilities of fiduciary duty when it came to handling Relmada stocks and finances.

Laidlaw’s misrepresentations and dishonest behavior have damaged the reputation and credibility of Relmada. These actions have also sent the stock price of Relmada shares plummeting from $4.03 to $1.65 per share. Additionally Laidlaw then tried to appoint a majority of the board of directors at Relmada Therapeutics. This was in violation of major regulations and a lawsuit was quickly filed to stop false information.

Relmada’s board is working diligently to rebuild the company’s reputation and protect shareholders. The amended lawsuit seeks further protection and restitution for Laidlaw’s false actions and attempted takeover of the company.

Laidlaw Ltd, is a bank that is incorporated in England but has its main base of operations in New York United States. Its two principals, Matthew Eitner and James Ahern knowingly disseminated false information about Relmada in attempt to undermine the company and take it over. James Ahern has had several customer complaints against him, which all resulted in payments to the plaintiff. He has had tax liens against him at both the state and federal level. Additionally Laidlaw as a firm has been found to be lacking in compliance, in violation of SEC laws and the firm is known to hire rogue investors from shut down investment firms.