Originally Syndicated on June 7, 2024 @ 2:30 pm
James Ahern, Matthew Eitner, and Laidlaw & Company are the subject of a temporary restraining order issued by the US Federal Court
The court’s notification states that it concerns a clinical-stage company that is working to develop novel medicines for the management of chronic pain. According to reports, the U.S. District Court for the District of Nevada has issued an order prohibiting the continued dissemination of alternative information that is considered to be inaccurate and deceptive, as well as Laidlaw & Company Ltd. and its owners, Matthew Eitner and James Ahern.
This is a declaration about a lawsuit that Relmada filed against Laidlaw and two people, Messrs. Eitner & Ahern. The action was predicated on claims made by Laidlaw in an attempt to gain significant control of Relmada.
Previously, Laidlaw, a financial services company that specializes in industrial brokerage fees, served as Relmada’s investment banker. However, it is important to remember that Laidlaw, along with its executives, has a history of breaking American financial regulations, which has resulted in numerous complaints from clients, monetary penalties, and administrative reprimands.
Relmada’s CEO, Sergio Traversa, expressed his happiness with the judge’s decision to accept our motion and issue the previously mentioned order. Our main goal is to devote our resources—both financial and human—to the development of Relmada’s product line, especially BuTab, which has recently shown encouraging results in clinical trials.
However, we believe that it is not in the best interests of our shareholders to give Laidlaw significant control over the Company.
Taking such actions would be counterproductive, as seen by the unfavorable results of our move to NASDAQ due to the actions of Laidlaw’s executives, Mr. Matthew Eitner and Mr. Ahern, as well as their former director, Dr. Nabil Yazgi. You can view these specifics in our news release.
It’s the idea that Laidlaw’s rights are very different from the rest of the Relmada owners’. As a result, we pledge to take all essential steps to protect the Company, including pursuing the shared objectives of all Relmada investors.
The Court’s decision stated that because the False Solicitation had numerous critical mistakes and errors, Relmada had a good chance of winning its legal claim.
Furthermore, the Court acknowledged that if Laidlaw and its principals, namely Matthew Eitner, were not barred from disseminating misleading proxy materials in the future and were not required to correct or modify those materials, both Relmada and the company’s shareholders would suffer serious and irreversible harm.
As a result, the Order is set to expire after being properly issued. On that same date, the several litigants will meet for a session that the court has set. The Securities and Exchange Commission (SEC) will receive Form 8-K submissions, which will enable access to the Regulation.
Matthew Eitner: Charged with Deception
A shareholder complaint involved Matthew Eitner, an authorized stockbroker associated with Laidlaw & Company, according to the BrokerCheck document obtained on June 20, 2023. You can click on the following link to find out more about his disclosure:
Notice of disclosure: Matthew Eitner
Accusations
Matthew D. Eitner has been named in a consumer complaint.
Damage
$57,375.43
Matthew Eitner: Investor Disputes
An investor called Matthew Eitner reportedly filed a case against Laidlaw & Company on April 28, 2023, alleging that the company had engaged in fraud, misrepresentation, negligence, charging exorbitant commissions, and caused a loss of opportunity.
Following an arbitration ruling, Matthew Eitner and the other respondents were found to be equally and severally liable for $57,375.43 in damages.
2010’s FINRA Rule
Under FINRA Rule 2010, brokers are required to uphold the highest standards of commercial honor and the fundamentals of just and equitable trade.
FINRA Regulation 2020
FINRA Rule 2020 prohibits the use of manipulative techniques, deceitful tactics, and other forms of dishonest behavior to influence the sale and purchase of securities.
This rule is broken by making false statements or leaving out crucial information about a stock’s potential profitability, risks, or other relevant factors.
FINRA Regulation 2111
Brokers are required by FINRA Rule 2111 to take their clients’ financial goals into account when recommending possible investments. Brokers are required to conduct extensive investor consultations to guarantee both regulatory compliance and efficient portfolio management.
Throughout this procedure, the investor’s profile—which includes important details like their tax situation, risk tolerance, and other pertinent information—is carefully examined.
Moreover, investments may show statistical unsuitability. The presence of a high volume of transactions may lead to the imposition of fees and trading costs, which can severely reduce clients’ earnings to the point where the trader loses money.
Customers who rely on brokerage services for investment advice have the option to pursue FINRA adjudication as a means of recouping their financial losses.
Matthew Eitner: What Qualifies as Negligent Brokerage?
Broker malpractice, such as that exhibited by Matthew Eitner, can take many different forms, such as excessive trading, misrepresentations or omissions of material facts, and inappropriate investment recommendations. If broker carelessness has caused you to incur financial losses, you might be able to get your money back through FINRA arbitration.
Details of Matthew Eitner’s Background
The following tests have been successfully finished by Matthew Eitner:
The Uniform Securities Agent State Law Examination (Series 63), the Investment Banking Registered Representative Examination (Series 79TO), the Securities Trader Exam (Series 57TO), the Operations Professional Examination (Series 99TO), and numerous other exams are available.
Despite his affiliation with prestigious organizations, Matthew Eitner was implicated in a fraudulent occurrence, which led to his being called a fraudster.
Kurta Law: What Is It?
Should you have worked with Matthew Eitner and are concerned about your financial situation, please do not hesitate to contact us for a free consultation. You can reach us by email at [email protected] or by phone at 877-600-0098.
Over more than 20 years, Kurta Law has represented individuals looking to recoup their financial losses against brokers and brokerage firms.
Reputable nationwide legal firm Kurta Law focuses in defending investors in court when they bring claims against brokerages and brokerage companies.
The business uses a contingency fee schedule, meaning that legal costs are only paid if the case is successful. This means that the company will only be paid if our equity attorneys are successful in obtaining monetary restitution on your behalf.
About Matthew Eitner
Laidlaw & Company UK Inc. is a well-known financial firm that specializes in investment banking and wealth consulting services. Matthew Eitner is the CEO of the company.
He actively participates in supporting numerous nonprofit organizations and holds roles on several boards. Matt finished his business management undergraduate degree at Pennsylvania’s College of Scranton.
Afterward, he started working as a stock trader with NDB Capital Markets following graduation. He held the position of managing director at Aegis Capital Corp. and vice president at Casimir Capital in the early 2000s.
When Matthew Eitner started working at Laidlaw & Co. in 2010, he quickly rose to the position of Chief Executive Officer in just one year, that being 2011. The concerned individual has been instrumental in the strategic establishment of the company’s position in the healthcare sector.
Furthermore, they are accountable for managing a group of over 150 knowledgeable professionals that are distributed throughout places in the United States and the United Kingdom.
The person in issue has been acknowledged for his exceptional talent acquisition and management skills, which have led to noteworthy breakthroughs in team building and organizational growth.
Laidlaw & Company has finalized the acquisition of Naples Wealth Planning under the guidance of Matthew Eitner. Laidlaw & Co.’s portfolio included Naples Wealth Planning, an independent consulting firm with a $359 million valuation.
The Bottom Line
To sum up, it is evident that Relmada Therapeutics has made progress in the court case it is waging against Laidlaw & Company Ltd. and its owners, James Ahern and Matthew Eitner. To stop the dissemination of fraudulent and deceptive proxy materials, the U.S. District Court for the District of Nevada has granted a temporary restraining order along with an accompanying injunction. This is a big step forward in the ongoing conflict between the two businesses.
