Mathew Eitner and James Ahern of Laidlaw &Company in lawsuit by Remalda Therapeutics

Remalda Therapeutics has been embroiled in a lawsuit where it accuses Laidlaw & Company of various malpractices. Recently, the company has amended the lawsuit to include Fiduciary duty that it is owed as a result of confidential information that Laidlaw disclosed when they were acting as Remalda’s investment banker. The therapeutics company specializes in the creation of new treatments and management options for chronic pain.
The company claims that Laidlaw also owes them compensation because they had to deal with the false and misleading reports that Laidlaw posted about the clinical stage company.
Remalda stated that the court has issued a restraining order to Laidlaw, to stop them from negatively affecting their company following their fallout. This was accompanied by an injunction, both which were ignored by the legal firm. Remalda’s Board of trustees assessed the situation and state that they deserve compensation from the legal term and that they will follow up the matter legally till a solution is arrived at. They want the legal company to be stopped from further harming the reputation of their business.
The company has already informed their clients about the steps that they are taking in their own interests. In the letter, information about the new lineup of directors has been detailed. In addition, they have given the details of the amended lawsuit and expressed gratitude for the clients’ support.
The legal firm became Remalda’s investment banker in 2014. Laidlaw is not new to controversy over shrewd business practices. They have been to court over the same issues in the past. One notable event was the sanction by FINRA for refusal to react to complaints that customers were making about damages.
The new controversy just goes to the company is forming a habit of illegal practices and this is costing their clients, claims that they do not address well.

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