Remalda Therapeutics announced recently that they were filing a lawsuit against Laidlaw & Company UK. Remalda develops therapies for people suffering from chronic pain. They are filing their lawsuit against Laidlaw in the U.S. District Court in Nevada. Remalda hopes that the lawsuit will help them regain much of what they lost by working with Laidlaw.
The lawsuit against Laidlaw features several important complaints. Remalda claims that Laidlaw breached their fiduciary duty by disclosing confidential information when they started working as Remalda’s investment banking. Remalda is seeking monetary damages from the fees and costs that were incurred responding to Laidlaw’s materials.
Remalda has had great success working in the courts to get reparations. The Nevada court has already issued a restraining order in another case against Laidlaw. Remalda wants compensation for the damages that Laidlaw has inflicted on them.The company has issued a press release and sent a notice to their stockholders. They are very confident that the lawsuit will end in their favor.
Laidlaw and Company are a full-service investment banking and brokerage firm. The company is lead by principals Matthew Eitner and James Aherm. The company has a 170-year history of serving their customers with integrity, but in recent years the firm has gone down hill. Laidlaw is fending off multiple lawsuits, including the one from Remalda. Additionally, several workers have complained of the harsh working conditions at Laidlaw. The company earns a mere three stars on Glassdoor. They don’t help their interns reach their potential and have been accused of taking advantage of their work ethic. Laidlaw is heading downhill if they do not take action soon.
Remalda is struggling because they trusted Laidlaw and Company. Fortunately, it looks like Laidlaw is making progress within the United States courts. The issue should be rectified soon and Eitner and Aherm will be punished.