Relmada Therapautics, Inc. is a clinical-stage firm that develops model therapies for chronic pain treatment. The company announced that it had filed a motion to amend its complaints against Laidlaw & Company (UK) Ltd. in Nevada, United States District Court. The motion to file an amendment complaint was part of the litigation that was previously filed by the company in the same court. This complaint includes a legal claim based on Laidlaw’s breach of its fiduciary duty owed to Relmada when it allegedly acquired disclosed information as the company’s investment banker. Relmada also seeks monetary compensation arising from costs and fees it incurred responding to Laidlaw’s misleading and false proxy material in December 2015.
Relmada also noted that the court had previously issued an associated injunction and restraining order against Laidlaw and its principals, James Ahern and Mathew Eitner, as a result of their dissemination of false proxy material. Relmada believes that Laidlaw should compensate the company for its actions and that Laidlaw should be warned against causing any harm to Relmada in the future.
Relmada’s principals and Board of Directors remain committed to taking the necessary action to protect the interest of the stakeholders and the company. For this reason, on January 25, 2016, the company filed the motion to amend the litigation against Laidlaw & Company (UK) Ltd.
Laidlaw & Company (UK) Ltd. provides wealth management services and investment banking to individuals and institutions in the United States and the United Kingdom. Its services include capital raising through replacing equity with high-net-worth retail and institutional investors, the arrangement of national stock exchange listings, acquisition financing, the US trading markets, placement of meaning and debt capital with institutional investors, AIM-listed transactions in the UK markets, and initial public offerings. Its investment banking services also include divestitures, acquisitions, fairness opinions, and financial restructuring.