FSD Pharma (NASDAQ: HUGE) (CSE: HUGE) (FSE: 0K9A), a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions to address ailments affecting millions worldwide, has announced the Nov. 9, 2022, dismissal of the claim for USD $30.2 million brought by the company’s former CEO, Dr. Raza Bokhari. Dr. Bokhari had claimed that he had been wrongfully dismissed. The arbitrator hearing the claim dismissed it in its entirety and ordered Dr. Bokhari to repay certain monies to FSD Pharma, while also holding Dr. Bokhari responsible for FSD Pharma’s costs of the arbitration. “The outcome of the arbitration represents a full vindication of the actions of the current management and board of directors of FSD Pharma with respect to Dr. Bokhari, prior to, during and subsequent to the 2021 proxy battle,” said Zeeshan Saeed, founder, president and executive co-chairman of the company. “We are happy to report to our shareholders that this claim has been resolved fully in our favour.”
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About FSD Pharma Inc.
FSD Pharma is a biotechnology company with three drug candidates in different stages of development. FSD BioSciences Inc., a wholly owned subsidiary, is focused on pharmaceutical research and development of its lead compound, FSD201, an ultra-micronized PEA, for the treatment of inflammatory diseases. Lucid Psycheceuticals Inc., a wholly owned subsidiary, is focused on the research and development of its lead compounds, Lucid-Psych and Lucid-MS. Lucid-Psych is a molecular compound identified for the potential treatment of mental health disorders. Lucid-MS is a molecular compound identified for the potential treatment of neurodegenerative disorders. For more information, visit the company’s website at www.FSDPharma.com.
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