More trouble seems to be brewing between Relmada Therapeutics and Laidlaw & Company after the former filed a legal motion to amend complaints that it had earlier made against the latter. The pharmaceutical company filed the motion at the US District Court in Nevada. The motion forms part of a legal battle that has embroiled the two firms, which were previously business partners. It contains additional legal claims based on Laidlaw’s disclosure of information concerning its takeover of the pharmaceutical company.
Relmada accuses the investment firm of leaking information about its operations to the public. In line with this, it is seeking monetary damages that it claims arose from legal costs incurred while responding to Laidlaw’s misleading proxy materials. Relmada notes that the court had earlier issued a restraining order against Laidlaw’s principals, James Ahern and Matthew Eitner. The injunction was issued as a result of the role that they played in disseminating the false proxy materials. However, the two blatantly disregarded the injunction.
Laidlaw served as Relmada’s primary investment bank for several years. It was the pharmaceutical company’s placement agent when its shares were offered to the public between 2011 and 2014. However, trouble started brewing when Relmada’s management wanted to attract new investment. Apparently, Laidlaw used this as an opportunity to publicly announce that it was about to purchase Relmada. This is what has led to protracted legal battle between the two companies.
About Laidlaw & Company
The firm prides itself in being a full service brokerage and investment banking institution. It offers tailor-made investment advice to public and private corporations as well as affluent individuals. The company has established itself in the European and North American markets. It has built a legacy within the money markets, which spans more than 170 years. Currently, it boasts over 150 employees spread out in its offices across the two continents.