On December 11th, 2015 Relmada Therapeutics, Inc filed an injunction against the Laidlaw & Company and its principals, Matthew Eitner and James Ahern. Supposedly Laidlaw & Company continued to disseminate false and misleading proxy materials. It seems as though this is not the first time, Laidlaw & Company seemed to have a history of violating U.S. financial regulations, which has not only resulted in customer complaints but many different penalties as well. It is believed that Relmada is likely to succeed in this injunction because the False Solicitation contains material misstatements and omissions.
Laidlaw & Company view themselves as a different kind of brokerage firm. The main executive team members, Matthew Eitner and James Ahern are the Managing Partner, Head of Capital Markets and chief financial operations manager. The other partner, John W. Coolong is the chief Compliance Office. Laidlaw & Company have over one-hundred and seventy years of independent investment banking and securities brokerage. They also have a growing network of offices in the United States and Europe with over 150 employees.
With so many offices and employees, it is true that some elements of the business are going to slip through the cracks and customers are not going to be one-hundred percent happy with the brokerage firm and business. I find it hard to believe that Matthew Eitner and James Ahern purposely would throw 170 years of hard work, dedication, and commitment to the company down the drain intentionally. It might have been a mistake made in an office outside the United States that they did not catch, but unfortunately, it falls on their shoulders since they are the shareholders of the company. A lot of big businesses are all about the money, and that is all they care about.