HUGE - FSD Pharma awarded CAD 2.81M in costs of arbitration in favor of former CEO lawsuit
2023-05-11 08:58:05 ET
- Biopharmaceutical company FSD Pharma ( NASDAQ: HUGE ) has been awarded about CAD2.81M in costs of arbitration by Justice Cunningham.
- The costs award particularizes the amount of FSD Pharma’s costs entitlement, which includes legal fees of CAD1.98M, disbursements of CAD509,005, and HST of CAD323,760, for a total of CAD2.8B.
- In July 2021, the FSD Pharma Board of Directors voted to terminate the employment of its former Chief Executive Officer, Raza Bokhari for cause.
- Bokhari subsequently brought a wrongful dismissal claim against FSD Pharma, which was dismissed in its entirety by Justice Cunningham in a merits award dated November 9, 2022.
- In the recent cost award decision, Justice Cunningham ruled in favor of FSD Pharma and held Bokhari responsible for the company's costs of the arbitration.
- Press Release
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FSD Pharma awarded CAD 2.81M in costs of arbitration in favor of former CEO lawsuit