An epidemic does plague the United States legal system today, and it’s getting worse. First, most people do not know how to use the legal system or what it actually is; when one is faced with a legal crisis, the first thing that comes to mind is to hire an attorney or law firm. And here lies the problem; can we trust the legal process when we know nothing of its operation? Consequently, among the fifty states, each state has its own and different legal design. Individual state courts are separate from federal courts.
By general scale, the legal system and its process are clandestine, hidden, and foreign to most people’s understanding. So how do we know when an assertion of false and misleading proxy materials has been perpetrated by Laidlaw and its Principals, Matthew Eitner and James Ahern?
Relmada Therapeutics hired Laidlaw—an investment bank, as Relmada’s financial adviser. Laidlaw’s main business is in capital markets.
Relmada Therapeutics filed an amended complaint in the federal court. The complaint filed in U.S. District Court for the District of Nevada was based on the above mentioned breach. Prior to the amended complaint, Relmada had filed a temporary restraining order, and associate injunction against Laidlaw for dissemination of false material. Relmada’s board found it necessary to write letters to their stockholders explaining the situation, so was it obvious that each stockholder understands the legal implication of the breach, and the fiduciary duty owed to Relmada by Laidlaw? Did the stockholders understand the legal arguments behind the amended complaint?
It’s assumable everyone acknowledges a controversy; but jurisdiction, and complicated legal theory places Relmada Therapeutics’ claim in federal court. Furthermore, I will bet that there is case law, and legal documents filed with the court that amounts to over one-hundred gigabits of data. How much of that would be hard-copy? My guess maybe, about 36-inch-height of legal folders piled on top of each other. In conclusion, I would question, does it take this much effort to prove a wrong?