The case started in the spring of 2015 when Remalda first brought up the idea of recruiting new investors to Laidlaw. Laidlaw proposed a non-deal roadshow in order to discuss this in a confidential manner. Through this, Laidlaw introduced Remalda to certain investors who they recommended. Interactions with one of those investors was what allegedly led to the lawsuit. That investor entered into a confidentiality agreement with Remalda. In October 2015, Laidlaw sent a letter to their Board and filed a 13D with the SEC (Securities and Exchange Commissions) which illegally disclosed the confidential information.
In the initial attempt to settle the dispute, the directors of Remalda set up a meeting with Laidlaw. That meeting was held on December 1, 2015 with Laidlaw’s CEO, Matthew Eitner and Managing Partner, James Ahern. Three days later, Laidlaw issued a press release stating that they were going to launch a solicitation and proxy contest to elect five directors to take control of Remalda.
Laidlaw is an investment bank that has been in business since 1842. They operate primarily on a “think outside the box” approach and distribute their solutions between both capital and independent investments. They also do their best to dedicate themselves especially to emerging entrepreneurs.
Laidlaw covers both porfolio management and financial planning. They diversify the former as much as possible and provide a comprehensive approach to the latter. They believe that both approaches encourage growth and preservation of their clients’ investments.