Just recently, the Nevada District Court issued a restraining order against an investment banking company known as Laidlaw. The court arrived at this decision after a clinical company sued the investment bank. Laidlaw had used its position to take over Relmada Therapeutics, a move that was rejected by the management in the clinical company.
Under the leadership of Mathew Eitner and James Ahern, Laidlaw Company was given the responsibility of acting as the investment banker for Relmada Therapeutics. The clinical company decided to organize for capital raising activities, giving the responsibility to Laidlaw. During these events, Laidlaw accessed some private and confidential information about the clinical company.
After several months, Laidlaw breached the contract signed by the two organization, releasing some private company to the public. The clinical company suffered massive losses because of these actions, forcing it to go to court. However after the court issued the restraining order, the investment banking company has not been able to proceed with its activities.
Laidlaw and its principles have been violating the United Kingdom regulations for some time now. The organization operates in the US and the UK, and it has had its share of challenges in the past. The reputation of the company has been severely affected by the numerous court battles from the clients, making it lose a lot of money.
Not long ago, Relmada Therapeutics went to court to amend its cases, and this time, it is asking for monetary compensation because of the losses incurred due to the breach of contract by Relmada Therapeutics. If the Nevada District Court rules in favor of the clinical company, then Laidlaw and its principals will have to pay a lot of money. Many people will also lose their trust in the organization because this is not the first time these cases are coming up.