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FSD Pharma Wins Arbitration Award Against Former CEO Bokhari
FSD Pharma Inc. (NASDAQ:HUGE)(CSE:HUGE)(FRA:0K9A), a Canadian biopharmaceutical company, announced that a U.S. District Court confirmed its arbitration awards against former CEO Dr. Raza Bokhari. The awards, issued by a Canadian arbitrator in 2022, amount to over CAD $3 million plus interest.
The court upheld multiple monetary awards: USD $147,301.04, CAD $31,912.55, CAD $15,000.00, and CAD $2,814,229.15. Each award includes interest accruing from November 2022 or May 2023 until paid. This decision follows significant litigation and an evidentiary hearing, where the arbitrator ruled against Bokhari's challenge to his termination in 2021.
The ruling was made under the New York Convention, with the District Court finding no grounds to deny enforcement of the arbitration awards.
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