In Septemeber, Relmada Therapeutics filed a second amended lawsuit against Laidlaw & Company and their principles, Matthew Eitner and James Ahern. Laidlaw is a Nevada based investment banking and brokerage firm that prides itself in its vast and high ranking clients. Relmada, a therapeutic product company, hired Laidlaw as their investment banker. However, in 2015 things went south when Laidlaw allegedly breached their fiduciary duty to Relmada.
Laidlaw is considered a boutique firm, one that specializes in investment banking and wealth management. Eitner is the company’s chief executive officer and Ahern the head of capital markets. While the company has functioned for over 170 years, according to its website, the Relmada lawsuit has certainly rocked the boat.
Relmada claims that Laidlaw used and shared information they gained through their investment banking services for their personal benefit. As per the lawsuit, they are asking that Laidlaw cease to spread incorrect information through proxies to their stockholders and take action to correct the alleged misinformation they have already shared. Relmada is also seeking monetary compensation. If Relmada’s claims are found to be legitimate, Laidlaw would likely struggle to build client relationships in the future.
Relmada is a publicly traded company. Therefor, stockholders share a concern in Relmada’s ongoing allegations. Relmada’s second amendment has gone on to assert concerning allegations ranging from defamation to breach of racketeering and corruption statues. The company has been vocal in their quest to find Laidlaw guilty, and have made repeated claims that the firm’s actions have lead to substantial damages. All the while, Laidlaw has remained considerably silent while it awaits news of the complaint.
From here, it is up to the Nevada District Court to determine whether Relmada’s claims are substantial. For now, a federally issued preliminary injunction will restrain Laidlaw from committing any further damages.