Laidlaw’s Principals On Spotlight As Relmada Therapeutics Files Complaints
Relmada Therapeutics filed an amended complaint as part of the lawsuit it had filed against Laidlaw. The complaint highlights Laidlaw’s breach of contract by disclosing confidential information about Relmada Therapeutics that it had acquired as the company’s financial advisor. The two people subjected in this complaint are Mr. Matthew Eitner and James Ahern, the CEO and Managing Partner respectively.
Relmada Therapeutics, a company, developing remedies for chronic pain, acquired restraining orders and injunctions against Laidlaw and its two principals for divulging false information about Relmada Inc. Relmada’s board believe that Laidlaw is liable to compensate for damages it suffered and that action had to be taken to ensure Laidlaw doesn’t harm the company in the future.
Laidlaw’s long history of failing to comply with state and federal securities laws has lead to multiple sanctions and suspensions by state regulators, SEC and NYSE. Some violations include:
• During the global financial crisis, the company received over 60 customer complaints and lawsuits for damage compensation.
• During the same period, FINRA sanctioned Laidlaw for failure to report these complaints as stipulated in the financial regulations
• Failure to comply with rules regarding money laundering
Laidlaw & Company Ltd, initially Sands Brothers International is an investment firm located in the US and the UK. It offers investment banking as well as wealth management services to private and public institutions, corporates as well as high net individuals. Its principal business location is NYC.
Its executive team, Mr. Matthew Eitner, CEO, and James Ahern, a managing partner and head of capital markets are the leaders and are responsible for the day-to-day operations of the company. The company is well-equipped to serve its clients having been on the investment banking and wealth management scene for over 170 years. Laidlaw’s offices in both the UK and the US hold over 150 employees.