Before you can rush to hire the Laidlaw & Company to help with your wealth management, here is what you need to know;
Facts about the company
- The company was established in 1842, and even though a lot has changed, their name has remained the same
- They deal with investment banking, wealth management, institutional sales and trading
- They recently announced executive changes that include the expansion of their London office. There will be an addition of two members; Richard Michlaski and Bryan Kobel
- They have different clients that they serve including multimillion companies
- The managing team includes; Matthew D Eitner the CEO, James Ahern the Managing partner and also the head of capital markets and John Coolong the chief compliance officer and the chief financial officer.
Even though the company has attained great success, they have not achieved a great reputation and here is why;
In the recent times, the company has received a number of complaints and lawsuits from their clients. One of the most recent and the notable one is the lawsuit that was filed by Relmada therapeutics.
Relmada is a company that deals with clinical stage companies that develop therapies and treatments mostly for chronic pain. Laidlaw was the company’s investment bank until they decided to change the management.
Laidlaw wanted to change the board of directors of the company in a bid to protect their own selfish interests. This is what led to the filing of the lawsuit.
A couple of weeks ago, Relmada made changes to the complaint to add another lawsuit for Laidlaw’s violation of the fiduciary duty. This has led to Relmada incurring losses, and they are seeking for restitution.
In my own opinion, you should avoid doing business with the company until the case is settled.