Recent Information on Laidlaw & Company
Laidlaw & Company is one of the leading investment banks and wealth management Companies in the United States. It has got its headquarters in New York City and operates both in the United States and the United Kingdom.
Laidlaw majors its operation in advising both high end individuals and companies in wealth management and assisting in raising financial capital by underwriting during the issuance of securities.
The SEC registered company has been facing complaints over a couple of years for violating the good financial principles and regulations in the capital market which has resulted in numerous law suits against it together with sanctions and penalties from the capital market regulators.
Currently as reported by PR Newswire, the company is battling with a law suit filed by Relmada Therapeutics Inc, its former customers, for a breach of its fiduciary duty during an undertaking to help in raising financial capital. In its pleadings, Relmada is accusing Laidlaw and its management of using the confidential information it obtained during the conduct of its duties to try and illegally acquire it and obtain majority control over it.
As an investment banker, Laidlaw is privileged during the cause of its dealings with its customers to access very confidential financial information concerning its customers but among the regulations in the capital market is that it should not try and use such information to the detriment of its agents or disclose it to outsiders. This boarders insider trading which is illegal and has contributed to the erosion of public confidence in the stock market.
As an investment banker, the company is supposed to carry out its operations with utmost discipline and care. This has injured the company’s reputation and public confidence but there has been an overhaul in the composition of its management and with this things are bound to improve.