It appears that Laidlaw, and all of its Principal Officers, have allegedly breached their fiduciary duty in dealings with Relmada Therapeutics. The lawsuit was recently amended by Relmada to add further incriminating evidence against the Laidlaw company, showing monetary damages that came from having confidential documents disclosed in a misleading manner. These grievous actions from Laidlaw has shown that, as an investment banker, they cannot be trusted with sensitive materials, and they are willing to break the confidentiality agreements with partnering companies.
Who is Laidlaw?
The first thing that is noticeable when browsing to their website is their claim to having a 170 year legacy. Their logo will back this up with a ‘Est. 1842’ text in the bottom right corner. In all honesty, however, the only thing that has stayed the same in those one hundred and seventy years is their name. Banking and investing, as one can imagine, is a completely different ballpark. It has not been under the ownership of anyone with a Laidlaw surname in the last many decades.
Outside of that little bit of misleading information, this company does currently have a lawsuit against them for disclosing confidential information. The court system has ruled that Laidlaw & Company cease their contact with the other company. If anything, this raises some very serious questions about their willingness to adhere to professional ethics in the bank investment industry.
Furthermore, the company turns out to be an awful place to work. This ties in extraordinarily well with the idea that Laidlaw & Company does not place an emphasis on professionalism. Internships with the company are purposefully misleading by claiming that it will be a paid internship before turning back on those advertisements, and the work environment itself is described to resemble more of a ‘frat house’ atmosphere than that of an office.