Relmada therapeutics is still pursuing its court battles with Laidlaw & company (UK) Ltd, and its two principals, James Ahern (Managing Partner and Head of Capital Markets) and Matthew Eitner (Chief Executive Officer). The company has filed a motion to amend the lawsuit previously lodged in the United States District Court for Nevada District. The amendment includes an additional legal claim on breach of fiduciary duty by Laidlaw. Laidlaw, once Relmada’s Investment banker is accused of disclosing its client’s confidential information acquired at its capacity. Relmada is now seeking compensation for monetary damages suffered through fees and costs when responding to Laidlaw’s false materials in December 2015.
The company has also communicated to its stockholders informing them of this action meant to safeguard their interests. In a letter to the stockholders, Relmada board and management said that they were committed to serving and protecting their best interests and will take all necessary and appropriate steps to achieve this. Relmada hopes to get through with the lawsuit as soon as possible so they can focus all the company’s time and resources on their product development plan which is already delivering tangible results.
Laidlaw is an Investment banking and brokerage firm that offers investment advice to public and private institutions and net worth individual investors. The firm founded in 1842 was one of the very first investment banks in the U.K. Currently the firm has worldwide offices and global clientele of net worth clients that include individuals, corporations, and institutions.
Laidlaw, which formerly operated as Sands Brothers International Ltd, has a history of violating state and federal laws on securities and financial regulations. The firm has severally been sanctioned, censured and suspended by the SEC, state regulators, and the Newyork Stock Exchange. The firm’s top principal James Ahern has been in the financial industry since 2003 and has already had four customer complaints and tax liens filed against him. His college records have not been traced back to Assumption College where Ahern claims to have received his undergraduate degree. Matthew Eitner became the firms CEO in 2011.