For a number of years, Laidlaw had been Relmada Therapeutics investment banker — primarily assisting the company with business-related interactions. This changed, however, in December of 2015 — when Relmada Therapeutics began their restraining order, and eventual lawsuit, against their former investment banker, Laidlaw.
This, of course, is not a decision made without reason. Relmada Therapeutics began their lawsuit against Laidlaw after the latter published a press release — following a meeting between Matthew Eitner, James Ahern, and Relmada’s chief executive officer — indicating that a proxy contest would be held in order to appoint five new directors to Relmada Therapeutics; something that was neither in the best interests of Relmada Therapeutics nor requested.
Something I noticed myself is that many people seem to have had negative interactions with Laidlaw & Company; and that many of these complaints are more recent. In recent years, a variety of companies have taken similar measures to Relmada Therapeutics against both Matthew Eitner and James Ahern — and Laidlaw & Company. These complaints, however, went unreported by Laidlaw & Company.
All in all, I personally believe Laidlaw & Company is a bit of a shady company. While many may consider what they did to Relmada Therapeutics to be an honest mistake, I find it hard to give them the same benefit of the doubt — simply because they had complaints from other companies in the past, a majority of which going unreported by Laidlaw & Company, as aforementioned. Additionally of note is that many past workers have filed lawsuits against the company in the past — a majority of these actually being settled, likely due to being an in-company matter.