Fresh reports have appeared indicating that Laidlaw is back in the limelight again. This time round, they are embroiled in a lawsuit with a clinical stage company known as Remalda Therapeutics. The clinical stage research company had sued the investment bankers earlier, stating that they were acting in contravention of some of the contracts they had made.
Remalda had hired Laidlaw as their investment banker in 2014. The company, which has been in operation for a decade deals with services such as organizing IPOs for their clients, following up on any offers after the initial shares offer, registered directs and pipes. Mathew Eitner and James Ahern are the company’s leaders. When the company started, they were doing great service for their clients, but things have gotten out of hand and recently they have dealt with a few too many controversies from disgruntled clients. Some of the cases they have dealt with include the customer complaints launched against them is 2008 in which FINRA had to intervene to force the company to address customer dissatisfaction.
The current lawsuit has been amended by the complainant who claims that they are owed fiduciary duty. This is resulting from information that was disclosed confidentially to the investment banker by the client, but there has been breach of that confidentiality. As a result, the information reached the public domain and caused the company losses. The company also claims that they had been given an injunction and a restraining order to stop the investment banker, orders that seem to have been ignored.
Remalda Therapeutics have contacted their clients and in a letter, informed them about the details of the case. They have expressed gratitude to the partners that have continued to support them as they seek justice. They are planning to continue pressing the investment banking entity until a solution to their legal problem is found.