Laidlaw is a brokerage and Investment Company based in the UK. Laidlaw offers services on investment banking, Management of wealth and Capital markets. The Company has served their customers’ needs who include, corporate entrepreneurs, private clients, international and institutional companies for over 170 years with integrity. However, the company tarnished this great legacy by over feeding their self-interest and killing their stakeholder’s trust.
The Laidlaw Company is currently owning a history of non-compliance and violating federal securities and state laws. The company has found itself on the other side of the law severally due to its careless involvement in scams and corrupt activities. Laidlaw has been suspended by the New York Stock Exchange, the SEC and the state law regulators.
Laidlaw in received over 60 damage claims and complaints from customers; this resulted to its sanction by the FINRA. Also, FINRA discovered that the company was not implementing the set policies and regulations such as the anti-money laundering policies, not maintaining the received and forwarded checks and the disregarding the procedures on supervisory control. Workers from Laidlaw have also been complaining about the harsh working conditions at the company.
In a recent case, for example, the Remelda Therapeutics filed litigation against Laidlaw Company and its heading principles at the United States District Courts based in Nevada. According to Remelda, Laidlaw through its two managing principals James Ahern and Matthew Eitner were continuously disseminating deceptive and misleading proxy materials. Remelda which is a company developing therapies to treat chronic pains was previously working with the Laidlaw where Laidlaw served as their Investment bank. Remelda went to the courts seeking compensation damage costs incurred in their effort to respond to the Laidlaw materials and restraining of the Laidlaw from the further spreading of the force information. The Nevada Court passed a restraining order to the Laidlaw.