Lawsuit Against Laidlaw & Company Amended In District Court

Lawsuit Against Laidlaw & Company Amended In District Court

Clinical drug treatment company Relmada Theraputics Corporation recently filed an amended complaint against Laidlaw & Company in a Nevada District Court, according to PRNewswire.com.

The original complaint, which was filed against the company in 2015, arose from a breach of fiduciary duty. Laidlaw is accused of releasing confidential information while performing in capacity of the company’s investment banker. Relmada is also seeking damages for the fees incurred in response to the 2015 false claims by Laidlaw.

In the initial hearing, Remalda issued a restraining order against Matthew Eitner and James Ahern regarding the issuance of misleading proxy materials. The board of directors feels that Laidlaw suffered significantly and should be compensated for damages.

In a previously released letter, all stockholders have been made aware of the circumstances.

Aside from the amended court action, the letter also addressed the appointment of Shreerem Agharkar and Maged Shanouda to the board of directors and the positive test results for chronic pain medication BuTab.

Laidlaw has a long and tenuous history with Remalda. As the company’s principal financial banker, they oversaw the merger with Camp Nine Inc. Although a confidentiality agreement was signed, Laidlaw sent a letter to the Securities and Exchange Commission divulging confidential information.

Relmada believes that its company has be irrevocably damaged due to Laidlaw’s actions.

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