Laidlaw as many already know, is a a full service investment banking and brokerage firm. With headquarters located around the world, Laidlaw & Company is considered one of the biggest and most successful investment banking companies. As we all know with success comes scandal. The Laidlaw company managed to accumulate a wide variety of lawsuits surrounding their success. Many people are now speaking out against Laidlaw and their practices.
As I attempt to disect the lawsuits, I want to remind the readers that Laidlaw is presumed innocent until proven guilty. Accusations and rumors against Laidlaw are treated as such. Any court rulings will be discussed based on the outcome of the court ruling.
Dating back as far as 1999, Laidlaw & Company employee Leonard V. Gallick has played over a 5 million dollars in court fees and court rulings alone. He was found guilty on a wide variety of charges against him including unsuitable investments, breach of contracts, unauthorized margin trading, breached fiduciary duty and a host of other charges. While some charges against Leonard were settled out of court, he still has pending charges against him.
Another file against Laidlaw and its principals, Mathew Eitner and James Ahern, comes from Relmada Therapeutics. Almost mirroring the charges against Leonard V. Gallick, above all Relmada Therapeutics claims Laidlaw & Company breached fiduciary duty. Remalda was awarded a temporary restraining order against Laidlaw and its principals, Mathew Eitner and James Ahern. Remalda believes because of actions taken by Laidlaw & Company the decline in Remalda’s stock price has dropped significantly.
Laidlaw & Company are becoming notorious for all the wrong reasons. The importance of maintaining healthy relationships with your clients is a must in the world of investments. The reputation of Laidlaw & Company is slowly diminishing as others come forth speaking out against their practices. Only time can truly tell if Laidlaw will recover and gain a positive standing in the eyes of the public and media.