InvestmentPitch Media Video Discusses FSD Pharma’s Cost Award of $2.81 Million from Dr. Raza Bokhari in an Arbitration Settlement

VANCOUVER, British Columbia, May 16, 2023 (GLOBE NEWSWIRE) — FSD Pharma Inc. (NASDAQ:HUGE) (CSE:HUGE) (FSE:0K9A), a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions for the treatment of challenging neurodegenerative, inflammatory and metabolic disorders, has been awarded approximately $2.81 million Canadian in an arbitration settlement.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

For more information, please view the InvestmentPitch Media video which provides additional information about this news and the company. The video is available for viewing on “InvestmentPitch” and on “YouTube”. If these links are not enabled, please visit and enter “FSD Pharma” in the search box.

In July 2021, the FSD Pharma Board of Directors unanimously voted to terminate the employment of Dr. Raza Bokhari as Chief Executive Officer for cause. Dr. Bokhari subsequently brought a wrongful dismissal claim against FSD Pharma by way of arbitration, which was dismissed in its entirety by Justice J. Douglas Cunningham in a Merits Award dated November 9, 2022.

In the Merits Award, Justice Cunningham also held Dr. Bokhari responsible for FSD Pharma’s costs of the arbitration. The total costs awarded to FSD Pharma in the Costs Award, dated May 6, 2023, are comprised of legal fees of $1,981,462.91, disbursements of $509,005.33 and HST of $323,760.91, for a total of $2,814,229.15.

The full text of the Merits Award is available on the company’s website under the News and Events tab or on the following link:

FSD Pharma is a biotechnology company with three drug candidates in different stages of development. FSD BioSciences, a wholly owned subsidiary, is focused on pharmaceutical research and development of its lead compound, FSD201, a proprietary ultra-micronized PEA formulation, for the treatment of inflammatory diseases. FDA approved phase 1 trials have been completed with topline results. Phase 2 trials are currently ongoing.

Lucid Psycheceuticals, a wholly owned subsidiary, is focused on the research and development of its lead compounds, Lucid-Psych and Lucid-MS. Lucid-Psych is a molecular compound identified for the potential treatment of mental health disorders, and expanding this category, the company is investigating other products addressing acute medical needs due to the abuse of drugs such as alcohol. Lucid-MS is a molecular compound identified for the potential treatment of neurodegenerative disorders. The Global MS treatment market in 2022 is estimated at US$23 billion.

The shares are trading at US$1.11 on NASDAQ. For more information on the company’s drug candidates, please visit the company’s website,, or contact Zeeshan Saeed, Founder, President and Executive Co-Chairman, at 416-854-8884 or email or

About InvestmentPitch Media

InvestmentPitch Media leverages the power of video, which together with its extensive distribution, positions a company’s story ahead of the 1,000’s of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.


The information in this Investmentpitch Media Ltd video is for the viewers information only. FSD Pharma has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by Investmentpitch Media Ltd., through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. Investmentpitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.

InvestmentPitch Media
Barry Morgan, CFO

error: Content is protected !!