The ongoing lawsuit that Relmada Therapeutics has filed against Laidlaw and Company is back in the news as Relmada has amended the suit to include accusations that the investment bank divulged financial information of Relmada’s while doing business for the drug company.
Relmada had previously filed a suit against the company for disseminating proxy materials that were false and misleading. After the amendment, Relmada sent a letter to stockholders to explain what they were doing was in the best interest of both the company and the shareholders.
Anybody familiar with the world of investment banking should not be surprised at the accusations being leveled against Laidlaw and its two principals, Matthew Eitner and James Ahern. They have the reputation of being some of the biggest crooks around, and from what I have heard, it is well-deserved.
They are well known to grind their employees down while compensating them very little in return for their shark-like mentality. Reading about them on employee review sites, it seems they are encouraged to mislead clients about financial dealings all in the interest of scraping up that last dollar. As my grandfather used to say, “They would steal the coins off of a dead man’s eyes.”