Laidlaw & Company is an investment banking firm with a long history in the investment arena. Laidlaw specializes in raising capital among its many financial responsibilities. Relmada Therapeutics recently added to a previous suit against Laidlaw & Company and their executive leaders, James Ahern and Matthew Eitner. The suit alleges that Laidlaw has stolen trade secrets from Relmada and has violated their agreement to help raise needed capital. Laidlaw had worked to raise capital for Relmada as part of the financial agreement entered into by both parties.
Laidlaw has answered the suit by countersing Relmada claiming that the funds they raised for the drug company constitute an ownership position for Laidlaw.
A quick perusal of Relmada’s stock chart since their inception signifies they have serious problems. Relmada appears to have its back to a wall, and Laidlaw may succeed with its hostile takeover.
All too often investment banks are held in low regard by their clients who have become unhappy that an investment or a series of investments has not performed as well as they had imagined. In troubled economic times, these accusations of fiscal irresponsibility get worse and more plentiful. For many firms and investors, it is a no-win situation.
The judge, in this case being brought forth in Nevada, will need to have the wisdom of a Solomon in determining who is at fault in this contentious matter.