Remalda is a major pharmaceutical company and has recently filed a lawsuit against Laidlaw and Company. Recently, Remalda filed a lawsuit against Laidlaw in the Nevada court system. This lawsuit asserted that Laidlaw violated its fiduciary duty to Remalda when Remalda agreed to hire them. The lawsuit has changed to reflect an additional claim Remalda is making regarding materials that Laidlaw furnished Remalda with. Remalda claims that these materials were misleading and therefore violating the fiduciary law that requires Laidlaw to act in the best financial interest of Remalda. While many advisers aren’t fiduciaries, those that claim they are fiduciaries must act in the best interest of their client. In the lawsuit, Remalda is seeking damages that reflect the financial losses the company has suffered as a result of misleading information disseminated by Laidlaw. In the meantime, the court system has issued an injunction that bars Laidlaw from disseminating any further materials until the lawsuit is settled. A victory in the lawsuit would represent a major victory for both Remalda and its shareholders while dealing a major blow to the reputation of Laidlaw and its heads, Matthew Eitner and James Ahearn.
Matthew Eitner, CEO of Laidlaw, and James Ahern, senior managing partner, lead Laidlaw, a company with over 170 years of experience in the arena of investments and securities managements. With hundreds of offices scattered across the United States and Europe, Laidlaw serves a wide customer base. Laidlaw is one of the largest companies in the arena.
Laidlaw has developed its reputation by helping customers and clients reach their goals with unique and cutting edge business strategies. The investment team focuses its efforts on healthcare investments and combines a unique mix of young ideas employed by veteran and experienced leadership. While this company has an impressive track record, the lawsuit represents a significant black mark on this company’s record.