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Posted by Tommy LeDeux on

Laidlaw’s Principals Accused of Fraudulent Activities

Laidlaw & Company is one of the oldest and largest banking and investment firms in the world. Founded in England mover than a century ago, the company has grown to have a global reach, opening offices in countries in Europe and America. In the United States, the investment giant has offices in several states including New York, Texas and Florida. The company specializes in giving investment guidance and information to its clients, who include high net worth individuals, private organizations and public corporations. The investment banking group (Laidlaw) also manages investment on behalf of its customers.

Over the years, the company has diversified to introduce pool investment avenues for investors so as to aggregate funds for the direct venture into opportunities in technology, pharmaceuticals, insurance and other emerging investment opportunities. Over the last six years, the investment bank has expanded pooled investment strategies to include private securities in private issuers such as Facebook, LinkedIn, and Twitter. The firm has also developed strategies for its clients to invest in health care, biotechnology, mining and natural resources.

Recently, Laidlaw’s principals James Ahern, CEO of the firm, and Matthew Eitner were sued by one of the investment firm’s clients, Relmada Therapeutics, for defamation and attempts to take effective control of the drug making company. Relmada accuses Ahern and Eitner of releasing misleading information and false proxy material about the enterprise, thereby damaging the clinic stage company’s image in the eyes of the public. Relmada wants Laidlaw to compensate for the losses suffered as a result of Ahern and Eitner’s actions. The therapeutics company, which is involved in the development of effective therapies and treatment for chronic pain, also wants the court to issue a restraining order preventing Laidlaw from harming it in the future. So far, the U.S. District Court for the District of Nevada has granted a temporary restraining order preventing Laidlaw & Company from releasing further false proxy materials or potentially damaging information about Relmada.