Daily Archives: August 19, 2016
It is well known that Austin, Texas is one of the faster growing cities in the United States. Along with the rapid increase of growth in Austin comes the drive to continue to keep the city Green. One way the … Continue reading
The alleged propagation of false and misleading statements by Laidlaw & Company and its principals, James Ahern and Matthew Eitner was put to an end when the U.S. Federal Courts handed them a temporary restraining order and associated injunction. This step was meant to give protection to the interests of Relmada Therapeutics, INC, a clinical-stage pharmaceutical firm that develops novel treatments for the management of chronic pain. The temporary orders that the court issued responded to a lawsuit that was announced previously where Relmada sued Laidlaw and Messrs. It is alleged that Laidlaw and Messrs made attempts to assume effective control of Relmada with their misleading and false information. It’s important to understand the relationship between the parties to the suit, which is one of investment broker and client. Laidlaw, being the former, is known for past violations of U.S. financial regulations, resulting in multiple regulatory sanctions, customer complaints, and monetary penalties. In a statement to the press, the CEO of Relmada expressed delight at the court’s decision and affirmed that it would be prejudicial to stockholder’s interests and self-destructive of the company if Laidlaw took effective control of his firm. The CEO also reiterated that the interests of his firm’s stakeholders were completely different from those of Laidlaw. He also mentioned the adverse effects that his company experienced as it uplisted to NASDAQ, which directly resulted from the acts of Laidlaw’s principals. Laidlaw & Company is an investment banking and wealth management firm with roots in the U.K., but whose operations have spread to the U.S. market. Its principal investment activities include; acquisition financing, the arrangement of national exchange listings, raising capital via the placement of equity with high-net-worth retail and institutional investors, and the placement of debt and mezzanine capital with institutional investors. It also offers advisory services on acquisition, balance sheet optimizations/restructurings, strategic alliances, mergers, going private transactions, management-led buyouts, stock repurchases and recapitalizations, strategic partner transactions/joint ventures, divestitures, fairness options, and alternative investments. When it comes to wealth management, Laidlaw & Company provides portfolio management, investment advisory, and financial planning services. I just hope that the SEC catches up to the company one day. A company with such a portfolio of professional services should not get involved in multiple infractions of laid down trading and financial trading regulations.