Quantum Biopharma Higher in U.S. Pre-market Trading, as Ontario Court Dismisses Former CEO's Appeal

, MT Newswires -  8:53 AM ET 4/14/2025 Company News

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08:53 AM EDT, 04/14/2025 (MT Newswires) -- Quantum BioPharma ( QNTM ) was at last look up 3.3% in U.S. pre-market trading on Monday after saying the reconsideration motion by Dr. Raza Bokhari, its former chief executive officer, was dismissed entirely by the Ontario Court of Appeal.

Dr. Bokhari, who headed Quantum's predecessor company FSD Pharma, was terminated for cause in July 2021, a statement noted.

An arbitrator dismissed Dr. Bokhari's claim of wrongful dismissed in May 2023, awarding FSD Pharma C$2.81 million in costs of the arbitration plus interest. An additional $180,000 in costs, which were awarded by subsequent judges over the set aside and leave to appeal applications, is now due.

The company's shares were last seen up US$0.23, to US$7.17, in New York pre-market trading.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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