Category Archives: Confidentiality Breach

Home / Confidentiality Breach
1 Post

Relmada Therapeutics is a pharmaceutical company that develops proven drugs and different therapies used in the treatment of chronic pain. In January 2016, the company amended its complaint against the Laidlaw and it two principals Matthew Eitner and James Ahern. The amended complaint was part of the lawsuit that it had previously filed in the Nevada District Court. It included the compensation for the monetary damages that it used to respond to Laidlaw’s false and misleading information. In addition to that, they also included a claim of Laidlaw’s disclosure of the Relmada’s information thus breaching the confidentiality rule. Laidlaw served as the company’s investment banker.

Relmada approached the company in 2015 to help them attract new investors. They, therefore, organized a road show and held discussions that saw Relmada disclose confidential information to Laidlaw’s officials. It is after the roadshow that Relmada showed their dissatisfaction with Laidlaw’s performance on attracting new investors and on the road show. Their differences knocked in when Laidlaw’s officials sent a letter to Relmada’s Board of Directors and made some complaints at the Securities and Exchange Commission. The information they disclosed contained confidential information about the Relmada’s operations. In a press release, Laidlaw also announced the plans to launch a proxy contest and the agreement between the two companies to elect five executives who will run the Relmada.

Laidlaw & Company is investment banking and brokerage firm with its headquarters in New York. It offers its services to institutions and the affluent in the United States and the United Kingdom. They have various investment banking services including raising capital, acquisition financing, the U.S trading markets. AIM- listed transactions in the UK, re-capitalizations and stock repurchases, mergers, and alternative investments among others. The wealth management services include investments advisory, financial planning, and managing portfolios. Matthew Eitner is the company’s CEO while James P. Ahern is the Managing partner.