Relmada Inc, a medical institution that specializes in developing novel therapies for chronic pain, announced that it had filed a motion to amend the complaint it had made against Laidlaw. The complaint lawsuit Relmada Inc. filed in the Nevada District Court included a legal action claiming Laidlaw had breached fiduciary duty it owed Relmada Inc. after disclosing confidential information about the company when acting as the company’s investment banker.
Relmada is seeking compensation for legal fees and expenses arising from responding to Laidlaw’s publication of false materials in December 2015. Relmada Inc. had previously ensured that the Nevada court issued a temporarily associated conjunction and restraining order to Laidlaw and its principals Matthew and James as a result of their dissemination of false material about Relmada Inc. The board of Relmada believes that Laidlaw ought to compensate for the damage it has suffered and ensure no further damage is made in the future.
Laidlaw acted in the capacity of Relmada’s investment banker and financial advisor. It represented the company as Relmada’s placement agent in the years 2011 and 2014 offerings. Laidlaw facilitated Relmadas Inc. merger with Camp Nine Inc. making it a public company. However, Laidlaw’s actions of publishing false information about Relmada Inc. has been harmful to the company as well as its stockholders.
Laidlaw & Company (UK) Ltd. is an investment bank and brokerage firm that offers wealth management services and investment banking services to private and public institutions in both the UK and the US. Its executive team consists of Mr. Matthew Eitner who is the CEO, James Ahern, a managing partner and head of capital markets and John W. Coolong, the CCO and CFO. The company is a veteran in investment banking having been on the market for over 170 years. It has regional offices in the US and the UK employing over 150 people.