Deception Abound at Laidlaw & Company Investment Bank
On December 11, 2015, it was announced that Relmada Therapeutics, Inc, a clinical development company focusing on the treatment of chronic pain, was forced to take out a restraining order on Laidlaw & Company and its principals, Matthew Eitner and James Ahern for “continuing to disseminate false and misleading proxy materials.” Laidlaw & Company, an investment bank with a history of violating US financial regulations, not only provided false information to investors, they attempted to take over control of Relmada Therapeutics, Inc. Relmada realized that in order to protect itself and its investors from irreparable damage, they would have to step in and take legal action against Eitner and Ahern.
U.S. Federal Court Issues Temporary Restraining Order Against Laidlaw & Company And Its Principals Matthew Eitner And James Ahern
Laidlaw advertises itself as “a full-service investment banking and brokerage firm offering personalized investment advice and skillful execution to private and public institutions, as well as high net worth individual investors.” on their website laidlawltd.com. They have an extensive history of broker fraud, which according to an article on stopbrokerfraud.com also included broker Leonard V. Gallick who invested a customer’s money into “unsuitable trades,” which resulted in a $350,000 settlement in 2013. In 2014 Gallick was operating with another firm when a customer alleged the same complaint, this time seeking damages of $8 million.
Laidlaw‘s judgment in hiring brokers and principals such as Matthew Eitner and Ahern goes beyond questionable and appears downright deceitful and unethical. The firm claims to be working to help their customers, but their lies and fabrication of false documentation proves otherwise. This continues to be a problem with them. Until they are stopped, they will continue to further take advantage of the companies and individuals whom they work for.