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In a December 11, 2015 press release by PR Newswire, the US District court of Nevada issued a temporary restraining order against the investment firm Laidlaw. In an attempt to take over their former client, Relmada, Laidlaw’s principals, Mathew Eitner and James Ahern, who have a documented history of violating U.S. financial regulations, purposefully circulated materially false and misleading information to stockholders. Siting as evidence the negative impact of the NASDAQ uplisting engineered by Laidlaw and Company, Relmada’s CEO, Sergio Traversa, stated that the larger body of stockholders would be ill-served by a Laidlaw takeover of their firm. The court found that Relmada and its stockholders would suffer “irreparable harm” if the actions of Eitner and Ahern were not curtailed.

U.S. Federal Court Issues Temporary Restraining Order Against Laidlaw & Company And Its Principals Matthew Eitner And James Ahern

Though Laidlaw has a reasonably impressive portfolio, the shady tactics of Eitner and Ahern are unsettling. Like many powerful men before them, they act as if they are wearing Plato’s Ring of Gyges, which rendered its wearer invisible. Cloaked in this perceived invisibility, these men broke rules, misrepresented the truth, and caused harm to their former clients. Relmada was not the only company or investor to make such allegations against Laidlaw in the past decade. Laidlaw will have its day in court, let’s hope the legal system will see them for what they are.