After doing a bit of research into Laidlaw & Company I’ve determined that they are one of many investment firms that puts profit ahead of everything, including their legal and financial responsibilities. For example, in December 2015 the U.S. District Court for the District of Nevada issued a temporary restraining order and associated injunction against Laidlaw & Company on behalf of Relmada Therapeutics, Inc., citing dissemination of materially false and misleading information on the part of Laidlaw and its principals, Matthew Eitner and James Ahern. It is alleged that they disseminated false information to negatively impact the company’s stock prices. There are many accusations of material misrepresentation against Laidlaw that go back as far as 1998!
With just a few minutes of searching on the internet Laidlaw’s history is brought to light, including multiple complaints against Leonard V. Gallick, Jr., alleging multiple breaches of fiduciary duty, execution of excessive trades to generate commission, and misrepresentation of material facts. There are brief mentions of other issues, such as an alleged Cease and Desist order from the state of Connecticut in 2007, but the most telling information of all is the negative reviews from former and current employees on Glassdoor.com. It looks like both investors and employees would do well to stay far away from Laidlaw & Company!