Relmada is a U.S pharmaceutical company publicly traded on the pink sheets marketplace using the acronyms (RLMD). It’s mainly involved in the development and production of novel treatments and therapies for central nervous system related medical conditions. Some time back, the firm went to the courts seeking an injunction placed against Laidlaw & Company (UK) Ltd. In September 2016, Relmada returned in front of the same Nevada District Judge.
The amended motion dated September 6, 2016, noted how the continued defamation by the accused was causing Relmada a many financial loss. The prosecution went ahead to cite the specific violations which are clearly stated in the Securities Exchange Act of 1934. The motion seeks punitive measures taken against Laidlaw and monetary compensation from the accused party.
Planned Hostile Take-Over by Laidlaw
The original restraining order was directed at the principals of the law firm: Matthew Eitner and James Ahern. The two stood accused of wrongful dissemination of false and misleading proxy materials about Relmada. The attorneys of the biotechnology firm were requesting the judge to put a halt to any further actions which would cause added damage to them moving forward.
In a letter addressed to their shareholders, the board noted of the steps and measures they had taken against the aggressors. The administration noted down the countermeasures they had lined up to safeguard and protect the interests of their shareholders moving ahead. The letter outlined the progress Relmada had made thus far with their planned novel treatments and therapies.
About the Principals of Laidlaw
Matthew Eitner, 38, is the current CEO of Laidlaw & Company (UK). He usurped the position in April 2011 a year after joining the organization. Matthew has worked at the Private Client Group Aegis Capital Corp as the MD. Before that, he served as the VP at Casimir Capital. James Ahern is a partner at the firm. Just like his boss, he previously worked at both Aegis Capital and Casimir Capital.