Relmada is a company that concentrates on the manufacturing of medicines for chronic pain. Recently, the company stated that is planning to make an amendment on a lawsuit they filed made against Laidlaw and Company Ltd. The amendment was to add to some charges filed before in the in the U.S. District Court for the District of Nevada. Relmada claims that Laidlaw disclosed the company’s confidential information, which can negatively impact the company reputation to the investors. Another issue is Relmada is suing for damages caused by the company by Laidlaw by the fees and the costs the company incurred after the company misled them.
Remalda board of directors sat and decided that Laidlaw should compensate for the damages they have caused to the company as a form of punishment to ensure that Laidlaw doesn’t do the same thing to another company in the future. Remalda board of directors claims that they have taken action because they are trying to keep protecting the company and the interest of stakeholders as much as possible.
In December 2015, a temporary restraining order was issued against Laidlaw principles, Matthew Eitner and James Ahern following their misleading proxy materials. The case was then amended on January 2016.
Laidlaw is a 170-year-old company that has been concentrating on the independent and investment banking needs for both domestic and international companies, corporations, private investors, and institutions. The company’s goal is to provide exclusive services to both emerging and existing companies. The company is headed by Matthew D. Eitner who serves as the Chief Executive Officer and James P. Ahern who is the Managing partner and the head of Capital Markets. Both of the parties were involved in the lawsuit filed by Relmada. Although the company has been facing the charges, it has built an excellent reputation for the 170 years it has been in operation.