HUGE - FSD Pharma Wins $3M Final Judgment Against Dr. Raza Bokhari Current Chairman and CEO of Medicus Pharma

2024-06-28 08:36:40 ET

DENVER, Colo., Jun 28, 2024 ( 247marketnews.com )- FSD Pharma Inc. (NASDAQ: HUGE ) reported that the United States District Court for the Eastern District of Pennsylvania confirmed FSD Pharma, Inc.’s motion for entry of judgment is granted and judgment is entered in favor of FSD Pharma and against Dr. Raza Bokhari as follows:

1. USD $147,301.04, plus interest at a rate of 4% per annum from November 9, 2022 until the date the Judgment is satisfied.
2. CAD $31,912.55, plus interest at a rate of 4% per annum from November 9, 2022 until the date the Judgment is satisfied.
3. CAD $15,000.00, plus interest at a rate of 4% per annum from March 1, 2023 until the date the Judgment is satisfied.
4. CAD $2,814,229.15, plus interest at a rate of 6% per annum from May 7, 2023 until the date the Judgment is satisfied.

In July 2021, FSD’s board of directors terminated Dr. Raza Bokhari, its former CEO. Dr. Raza Bokhari filed an arbitration challenging this termination in Ontario, Canada. After years of litigation and an eight-day evidentiary hearing, the Arbitrator ruled against Dr. Raza Bokhari and issued three awards against Dr. Raza Bokhari in favor of FSD, including an award for damages and awards for FSD’s fees and costs incurred in the arbitration.

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