A Look At What Eye See

Laidlaw And Its Principals Receive A Temporary Restraining Order

Previously, Relmada Therapeutics filed a lawsuit against Laidlaw and its principals, Matthew Eitner and James Ahern, for disseminating misleading information to the public. I think that a company such as a financial institution should not disclose its client’s information to the public. Relmada is a clinical stage company that focuses on developing treatment for chronic pain. Laidlaw is an investment brokerage firm that previously served as Relmada’s investment banker. On December 11, 2015, Relmada Therapeutics reported that the U.S. District of Nevada had issued a temporary restraining order against Laidlaw and its principals in response to its previous lawsuit.
Sergio Traversa, the CEO of Relmada Therapeutics applauded the court’s decision for issuing the restraining order. He continued to say that they would concentrate on the progressive developments of the company’s product portfolio, including developing Bu Tab that had registered positive outcomes. Sergio explained that giving Laidlaw effective control of the company would harm stockholders as evidenced by the results of Laidlaw’s actions. It is my view that Relmada’s competitors may have used the disclosed information, thus the need to stop circulation of the same to avert any losses.
The court noted that Relmada and its stockholders would encounter irreparable harm if Laidlaw and its principals were not prohibited to disseminate misleading information. The court indicated that restraining Laidlaw was likely to lessen Relmada’s losses. Based on the ruling, Laidlaw was required to withdraw and correct the information that they had circulated. I believe that court’s decisions should be respected. It seems like Laidlaw did not heed to the court’s ruling. This information was originally reported on The Street.
About Laidlaw & Company
Laidlaw & Company (UK) Ltd provides custom investment advice and smart execution to both private and public institutions, including high net worth investors. Some of the services offered by the company are placement of debt and mezzanine capital with institutional investors, placement of equity with high net worth individuals, national exchange listings arrangement, and initial public offerings.
The company has a growing network of offices across the United States and Europe. Its services are universal. With over 170 years in the investment banking industry, the company has earned public trust due to its ability to help startups to raise funds and gain financial flexibility. The company believes in having a strong work ethics.