It appears that the legal troubles of Laidlaw & Company won’t be ending anytime soon. Despite the best efforts of its principals, Matthew Eitner and James Ahern, the public is becoming increasingly aware of their misguided corporate antics. This is primarily due to the protracted legal battle between Laidlaw & Company and one of its former associates, Relmada Technologies.
In a way, it’s ironic that all of Matthew Eitner and James Ahern’s actions would come back to haunt them in this way, since it was a campaign of misinformation against Relmada Technologies that got them into trouble in the first place. As it turns out, underhanded tactics are not a good method for instilling public trust, or improving the public’s opinion of your company after a major lawsuit has been filed against you.
For those who simply aren’t aware of the legal battle between Laidlaw & Company and Relmada Technologies, it originally began several years ago. At the time, Relmada Technologies was using Laidlaw & Company’s services as their investment banker. Through this capacity, Laidlaw & Company attempted to overthrow Relmada’s existing board of directors and demand the power to appoint their own members instead. While fights of this nature aren’t entirely uncommon between large firms, what is unusual is the manner in which Ahern and Eitner attempted to “win.”
While the two companies were expected to reach some sort of amicable agreement, Ahern and Eitner decided to release a public statement that essentially put into question Relmada’s future, as well as calling into question their judgment thus far. When Relmada responded with a lawsuit, a federal court ruled in their favor with an initial restraining order.
With Relmada Technologies making an amendment to its original lawsuit, it looks as though there is a clear winner in this fight, and it’s certainly not Matthew Eitner or James Ahern. In fact, it will be quite interesting to see how their future plays out after this lawsuit has been settled, as well as the future of the rest of Laidlaw & Company.