Relmada Therapeutics recently filed an amendment request to the Nevada District Court following its previous complaint against Laidlaw & Company. Relmada Therapeutics, which is a clinical company offering novel therapies for controlling chronic pain, apparently made an agreement with Laidlaw to provide it with investment banking services. It is accusing Laidlaw & Company of failure to honor the terms of agreement citing intentional breach of contract.
In its capacity as Relmada’s investment banker, Laidlaw allegedly released confidential information about the company. Consequentially, Relmada wants Laidlaw to pay for the damages caused by the oversight. Relmada also wants monetary compensation to cover the fees it used to respond to Laidlaw’s false proxy materials.
If the Nevada District Court judge agrees to the amendment, then Laidlaw will have to part with a lot of money to cover the breach of fiduciary duty. In its claim, Relmada noted that the court had already provided Laidlaw’s executives Mathew Eitner and James Ahern with an injunction.
About Laidlaw & Company
Laidlaw & Company is a multi-national firm operating in the United Kingdom and the United States. The company was formed in London, but it later relocated to the United States with New York City becoming its main base of operation. Laidlaw & Company offers investment solutions to thousands of clients. The company was formerly known as Sands Brothers International Ltd, but it changed its name as a result of poor reputation.
Laidlaw has a long history of reputation crisis in the United Sates. It is a notorious company that is popular for repeatedly violating SEC laws and financial regulations. Relmada Therapeutics’ case is just one of many complaints the company has been mentioned in. Within a span of two years, it received complaints from over 60 clients, which is a bad thing for an investment banking company.
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