Another Lawsuit Filed by Laidlaw & Company and its Principal, James Ahren.

by WilliamV .

 

Relmada Therapeutics, Inc., a well-known clinical stage company, which is popular for developing innovative chronic pain medicine has filed yet another lawsuit against the investment banking firm, Laidlaw & Company UK. Ltd. In a move to extract compensation for the damaging press release and false information by Laidlaw & Company, the new lawsuit is actually an amendment based on breach of fiduciary duty in relation to Laidlaw and its principles wrongfully disclosing confidential information regarding Relmada Therapeutics.
Relmada Therapeutics Files Amended Complaint Against Laidlaw and Its Principals, Matthew Eitner and James Ahern

In the past, Laidlaw & Company acted as an advisor and facilitator to Relmada Therapeutics acting as Relmada’s placement agent for December 2011 and May 2014 stock offerings. In addition, Laidlaw & Company also acted as financial advisor during the recent merger of Relmada and Camp None Inc. However, when the board of Relmada conveyed their dissatisfaction on some of the practices regarding a road-show used to attract investors, Laidlaw responded by filing a Schedule 13D with Security and Exchange Commission. Interestingly, the filing contained confidential information regarding past dealings between Relmada and Laidlaw. As a result of the filing, Relmada claims that its stock price fell from $4.03 to $1.65 in a short span. In fact, the stock price is just one of many drawbacks and damages incurred by Relmada due to the false information and accusations.

Who is James Ahren?

The unprofessional and lackluster attitude of Laidlaw is certainly not alarming in the sense that the company has a long history of non-compliance and FINRA violations. In addition, the head of capital markets at Laidlaw, James Ahren, is known to provide misleading educational certifications. In 2011 and 2012, the New State also filed tax liens against James Ahren. In his short career, James Ahren has already paid payments to customers in cases of fraud, breach of contract and breach of fiduciary duty etc. Matthew Eitner is found to be in a similar place.