Relmada Therapeutics, a company that specializes in assisting in the clinical trial stage of chronic pain treatments has announced that it is amending the complaint it previously filed against Laidlaw & Company. This complaint was initially filed in the U.S. District Court in Nevada. The amendment claims additional legal claims should be held against Laid Law because of the financial damage done to Relmada Therapeutics.
The damages suffered by Relmada Therapeutics were due to the confidential information that was disclosed by Laidlaw while they worked as Relmada’s investment banking company. Relmada is currently seeking monetary damages due to the fees and additional costs that it suffered when Laidlaw released false information about the company in 2015.
A temporary restraining order was placed against Laidlaw and its principles due to intimidation during negotiations. Relmada hopes to receive financial compensation from Laidlaw for current and future financial damages they have incurred due to the breech in confidentiality, as well as the false information that Laidlaw gave in writing to potential investors.
After Relmada was informed about the information breech and the false information being provided to potential investors, the immediately sent out a press release to the stockholders in the company clearing up the miscommunication. However, substantial financial damage was done to the company in a very short period of time.
Laidlaw is noted for having a questionable history when it comes to releasing insider information. They also have a questionable history for releasing false information in hopes to gain new investors, and increasing the investment potential from current investors.
Over the last several years, several complaints have been filed against Laidlaw and the way they manage business. Many companies refer to them as risky, others refer to them as dishonest in their approach to investing. Until further investigations have been completed to determine the ethical nature of Laidlaw’s business approach, investors are warned to avoid doing business with this company.