Dr. Raza Bokhari, Former Executive Chairman and CEO of FSD Pharma, Provides Litigation UpdateFiles a Motion For Leave Of Court and raises concern over investment strategy of FSD Pharma
Philadelphia, Pennsylvania--(Newsfile Corp. - October 16, 2023) - Dr. Raza Bokhari, the former CEO and Executive Chairman of FSD Pharma intends to challenge the fairness of the Court proceedings recently held in Toronto, Canada. Counsels for Dr. Bokhari have filed a motion for leave to appeal the recent decision of the Commercial List Court. The purpose of the appeal is to set aside the Arbitral Award issued by Arbitrator J. Douglas Cunningham in November 2022, relating to FSD Pharma's termination of Dr. Bokhari's employment. The termination followed immediately after a contested proxy battle in May 2021, instigated by the two dissident founders, Anthony Durkacz and Zeeshan Saeed, who by holding super-voting shares wielded disproportionate voting rights, took control of FSD Pharma and terminated Dr. Bokhari.
Dr. Bokhari asserts, amongst other things, that neither Arbitrator Cunningham nor FSD's attorneys, Blake, Cassels & Graydon LLP ("Blakes"), disclosed multiple ongoing dealings amongst themselves both before and during Arbitrator Cunningham's appointment to determine Dr. Bokhari's employment law dispute with FSD Pharma. The non-disclosure is contrary to the Arbitrator's disclosure obligations under Section 11 of the Ontario Arbitration Act, 1991, S.O. 1991, c. 17, giving rise to a reasonable apprehension of bias.
"It is unfortunate that FSD Pharma, which is currently led by Anthony Durkacz and Zeeshan Saeed, use every opportunity to malign me; most recently, in an FSD Pharma press release, by using excerpts from the endorsement of the Ontario superior court of justice," said Dr. Bokhari. "I am confident that the judicial proceedings will set aside the flawed arbitral award. I and other shareholders of FSD Pharma have suffered immensely from the proxy battle of 2021, which transferred control of FSD Pharma to the dissident founders, who have since then abandoned the US Food & Drug Development (FDA) approved ultra-micro PEA (FSD201) Drug Development program (https://feeds.issuerdirect.com/news-release.html?newsid=7443312162642841) and amongst other things have redirected nearly $10M in faith based Islamic Shariah Compliant investments through a financial institution or institutions that have ties with the brother of the founder, Executive Co-Chairman & CEO, Zeeshan Saeed."
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About Dr. Raza Bokhari
A recipient of Philadelphia Business Journal's "40 under 40" award, Dr. Raza Bokhari, has developed outstanding expertise in aggregating and accelerating life sciences, healthcare services and Pharmaceutical R&D companies.
Dr. Bokhari is the managing partner of RBx Capital, LP.
For more information on Dr. Bokhari, including the complete story of his tenure at FSD Pharma, please visit razabokhari.com.
For Further Information:
RBx Capital, LP: Carolyn Bonner, Principal (610)636-0184 cbonner@rbxcapital.net