In a recent announcement, Relmada Therapeutics Inc. has amended the complaint that it had filed against Laidlaw & Company. The amendment was filed in the Nevada District Court. The amendment is being applied to their lawsuit against Laidlaw that it had filed which covered material related to a breach of duty. The lawsuit claims that confidential information was leaked about the company when it was their investment banker.
Relmada has stated that they are seeking damages and are also requesting fees and costs related to the publication of misleading and false information that was disclosed in December 2015. James Ahern and Michael Eitner are the principals of Laidlaw and Michael Eitner is the CEO of the company. James Ahern is the Managing Partner and Head of Capital Markets. They have propelled the company to a great deal of success in the areas of Alternative Investments as well as wealth management. Laidlaw has been in business for over 170 years and boasts clients worldwide and across a variety of sectors. Despite this long history and great success, it seems as though the leaders of this company have found themselves in quite a predicament.
They have been sued for damages from leaking private information related to Remelda as well as a few other legal issues that are similar to the claim from Remelda. One has to wonder exactly how safe private company information may be in the hands of Laidlaw. It is hard to judge exactly how far the breach of information may have reached but it seems as though Laidlaw is involved a great deal of controversy right now. Expect to hear more regarding their handling of private client information and possibly a settlement.