Laidlaw is an investment banking company that operates in the United Kingdom. Laidlaw has been in operation for close to 10 years now and they offer services such as organizing IPOs for their clients, follow up about secondary offers, pipes and registered directs. The two men leading the company, Matthew Eitner and James Ahern started out with a great agenda for their clients. However, over time, things that have taken a turn and the company have been embroiled in a number of cases that question their integrity.
The latest controversy is a lawsuit whereby a clinical stage company, Remalda is suing them for malpractice. Recently, the company amended the initial lawsuit that they had filed to include fiduciary duty. The company, which was a client of the banking firm states that there was material that was disclosed by Laidlaw against their will and which has caused them a number of damages. They also claim that they had gotten a restraining order and also an injunction to stop the banking firm from using information that was shared between them, orders that were ignored by Laidlaw.
The investment banking company is not experiencing this type of problem for the first time. A few years ago, there was a similar case where several clients had claimed that there were malpractices occurring and the firm and that the company was not ready to address them. This led to sanctions being issues against the company by FINRA. The current manner they are handling the issue with Remalda therapies creates doubts as to whether the company is following the correct legal processes in their transactions.
The clinical stage company has already contacted their clients and informed them about the details of the case. The senior partners are hoping to push the legal issue until a lasting settlement is found and they are compensated for their losses.