Laidlaw & Company in Battle with Relmada Technologies

The world of high finance and investing has a workplace of powerful leaders and untested sales agents trying to emulate their superiors. It is a conservative realm, with wing-tipped shoes and Brooks Brothers suits, expensive neckties attached to starched white shirts. Once a person has achieved a modicum of success the purchase of a Rolex is de rigueur. Soon after comes the luxury vehicle, country club membership, and trophy wife. But the time before the Rolex is difficult for new sales agents, there is intense competition for sales and quotas. These aspiring traders who have passed a rigorous test to be licensed must prove their worth with sales. The promise of a corner office with a view is there, but failure means sharing open space on the floor of the “boiler room.”

Laidlaw & Company is an investment bank with 170 years in this field both in London and in the United States of America. Their top executives Matthew D. Eitner and James P. Ahern have been embroiled in a controversy with a company they brought public, Relmada Technologies. Unfortunately, the relationship between Relmada and Laidlaw has become contentious. Suits and amended suits have been filed, and the stock price of Relmada has deteriorated from a high of over $4 per share to $1.

The court system in Nevada will have to determine which company is at fault, but culpability often comes from junior agents trying to make sales at any cost to secure their position with the firm.

Many suits are brought by investors whose purchases with a brokerage firm have gone south and lost value. In a stock market that is growing in value with every year, some investors do not understand how it is possible to lose money from any investment. In the short term, many things are possible and often over-zealous sales agents are at fault.

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Jasper Palmer

Jasper Palmer wrote 77 posts

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