Laidlaw in fresh controversy; lawsuit from Remalda Therapies

A few years ago, Laidlaw made the headlines because they had refused to listen to some of the complaints that their clients were making about their services, an issue that led to the intervention of FINRA. Sanctions were issued and everyone thought that the investment banking entity together with their leaders, Matthew Eitner and James Ahern had learned their lesson. Well, it seems like the lesson is far from learned because the bank is in fresh trouble, this time, a lawsuit from Remalda Therapies.
Trouble started when Remalda, a clinical stage company that is researching on different ways to manage chronic pain realized that the investment bankers they had hired, Laidlaw was performing some malpractices. They moved to stop their business and a few more issues followed. Recently, the company has amended the initial lawsuit that they had brought against Laidlaw. They claim that they want to be paid fiduciary resulting from some very personal information that was revealed by Laidlaw which compromised their company.
Remalda also wants Laidlaw to compensate them for all the resources that they used for damage control after the investment bankers posted misleading reports about them to the public. A restraining order had been given to Laidlaw, and the bankers were supposed to stop harassing the clinical stage company because of their fallout. The order was accompanies by a restraining order, documents that Laidlaw seems to have ignored.
Remalda has written to all their clients informing them about the legal issue and thanking them for the continued support. They have promised to follow up on the issue until the other company stops acting in breach of their standing legal orders.
Laidlaw had been hired as Remalda’s business banker in 2014. Things took a turn for the worst when the company realized that the banker was involving malpractices in their dealings. The struggle to be freed from the banking company is what has brought on all the current problems, which casts a doubt on the genuineness of the investment banker.