Ontario Court Upholds Canadian Biopharmaceutical Win Over Former CEO In C$2.8M Dispute
Portfolio Pulse from Joana Scopel
The Ontario Superior Court of Justice upheld a May arbitration decision in favor of FSD Pharma Inc. (NASDAQ:HUGE) against its former CEO Dr. Raza Bokhari over allegations of financial mismanagement. Following the ruling, FSD Pharma is set to recover the C$2.8 million awarded in May, with an additional 6% interest rate. In a separate development, FSD Pharma signed a strategic agreement with Celly Nutrition Corp., aiming to distribute a portion of its holdings in Celly Nu to shareholders.
October 05, 2023 | 9:23 pm
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FSD Pharma won a legal dispute against its former CEO and is set to recover C$2.8 million with an additional 6% interest rate. The company also signed a strategic agreement with Celly Nutrition Corp.
The court's decision in favor of FSD Pharma and the recovery of C$2.8 million with an additional 6% interest rate is a positive development for the company. The strategic agreement with Celly Nutrition Corp. could potentially bring new opportunities and benefits for the company and its shareholders.
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