Relmada Therapeutics recently filed an application to amend some sections of the lawsuit against Laidlaw & Company, an investment bank operating in the United States and the United Kingdom. Prior to the amendment, Relmada filed a case at Nevada District Court seeking to get compensation for what it termed as Laidlaw’s failure to honor their contract agreement.
The company, which produces series of novel therapies for treating chronic pain, announced through their spokesperson that the amendment is already at the desk of the Nevada District Court judge. The amendment includes an additional claim that seeks compensation for Laidlaw’s breach of fiduciary duty. Laidlaw was supposed to pay the company for revealing confidential information to the public. In its capacity as Relamada’s financial advisor, Laidlaw had access to crucial information about the company, which leaked to the public for some unknown reasons. Relmada is also seeking monetary compensation for the damages caused as a result of Laidlaw’s false proxy materials.
Laidlaw is a private financial investment company lead by Mathew Eitner and James Ahern. The company was started in London, United Kingdom but was later moved to New York City. It operates as an investment banker throughout the country. The company is believed to be a subsidiary of Sand Brothers & Co. It is evident that many people who invested in the former have stakes in Laidlaw.
Laidlaw has been on the spotlight for the wrong reasons. In 2007 and 2008, the company became the center of focus after it received more than 60 complaints from clients in the United States and the United Kingdom. However, the company was cleared based on lack of evidence on the claims.