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.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100