Laidlaw, formerly Sands Brothers International Ltd., Is incorporated in England with its primary business established in New York. James Ahern is the Managing Partner as well as Head of Capital Markets for Laidlaw. However Assumption College, where he has supposedly attended, has no record of him ever graduating and there is no public record of James ever receiving an undergraduate degree. The US District Court for the District of Nevada has granted a temporary restraining order and injunction to Laidlaw & Company as well as James Ahern and Matthew Eitner, preventing them from providing misleading and false proxy. This court order came about because of the lawsuit filed by Relmada due to the less than satisfactory business intereactions between the two companies. The order expires December 2015.
Relmada Therapeutics is a pharmaceutical company that develops drug products in conjunction with new chemical advancements that focus on the treatment of pain. According to the Court Relmada is likely to be successful in their lawsuit because of Laidlaw’s false solicitation that contained falsified information and many omissions. Relmada and its stockholders need to become unassociated with the company in order to preserve its professional and trustworthiness as a company.
The investment and brokerage firm has received more than 60 customer claims and complaints because of damages incurred from 2007 to 2009. the FINRA found Laidlaw to be lacking when it came to implement policies in compliance with rules and regulations related to anti-money laundering. They also found email retention to be suspicious as well as misleading and incomplete interactions with the public.
Laidlaw has caused substantial losses to Relmada because of their actions. Relmada’s NASDAQ listing had a steep decline, reducing their stock to trade from $1.65 to $4.03. Laidlaw has had a history of violating federal and state laws and regulations.