Relmada Therapeutics is a successful clinical stage company that was founded to develop novel therapies for treating chronic pain. Just recently, the institution announced that the Nevada District Court had issued a restraining order and an injunction to Laidlaw & Company and its principals. According to the order, Laidlaw and its principles, Mathew and James will have to stop disseminating misleading and false information about the clinical company.
The Nevada District Court decision was issued after Relmada went to court to file a case against Laidlaw due to the breach of contract. Laidlaw had also threatened to take control over Relmada Therapeutics. The decision did not go well with the clinical company. Laidlaw had served as the investment brokerage company for Relmada Therapeutics for some time before problems started.
Laidlaw is a brokerage investment banking agency, and it is allowed to access important company information for its clients whenever it is important. The clinical company wanted to raise its capital in December last year; Laidlaw Company was in charge of the operations. These transactions enabled the principles of Laidlaw o access crucial information about the company, and the information was later on taken to the public.
After the capital raising activities had been completed, Laidlaw threatened to elect the majority members in the board of directors, taking full control of the clinical company. This was a breach of contract, according to the court.
Relmada Therapeutics has also amended its first lawsuit, and it is now asking for monetary compensation from the investment company. According to the enterprise, it suffered severe damages after relevant information was leaked to the customers. If the court orders the compensation, Laidlaw will lose a lot of money, and its reputation as an investment banker will be ruined for good. In the recent past, Laidlaw has lost some cases in court, forcing it to pay huge sums of money.