One New York Company offering investment banking services is Laidlaw & Company. Many of these services focus on emerging companies that focus on growth and also provides wealth management services.
Relmada Therapeutics filed a lawsuit on December 2015 in the District Court of Nevada against Laidlaw & Company, and against Matthew Eitner and James Ahern, the two top executive officers. The company was contracted to provide investment banker services for Relmada.
Relmada alleges Laidlaw & Company failed to comply with Securities and Exchange Commission regulations. It sought to end distribution of falsified information by Laidlaw & Company. Relmada further sought to prevent the investment banker from asking stockholders for substitutions and demanded the investment bank withdraw deceitful company statements and information.
On January 2016, Relmada filed a motion to amend the previous legal actions against Laidlaw & Company. It includes a motion to be compensated for monetary loses incurred by damaging actions of Laidlaw & Company’s breaches of fiduciary duty which caused monetary damages. The claim was based on Remalda’s private information and false proxies issued by the bank in 2015. The motion included an injunction to Matthew Eitner and James Ahern, the principal executive officers of the investment banker. It is of the opinion from the Relmada board that monetary damages paid by Laidlaw & Company will ensure that the corporation causes no further harm to its clients.