NetworkNewsBreaks – Quantum BioPharma Ltd. (NASD
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Posted On: 04/14/2025 4:47:16 PM
NetworkNewsBreaks – Quantum BioPharma Ltd. (NASDAQ: QNTM) Prevails in Legal Dispute With Former CEO
Quantum BioPharma (NASDAQ: QNTM), a biopharmaceutical company focused on neurodegenerative, metabolic and alcohol misuse disorders, announced that a reconsideration motion filed by former CEO Dr. Raza Bokhari was fully dismissed by the Court of Appeal for Ontario. Bokhari, terminated for cause in 2021, had previously lost an arbitration claiming wrongful dismissal, which resulted in a total cost award of approximately C$2.81 million plus interest. Additional court-awarded costs have raised the amount due to over C$3 million. Quantum BioPharma has initiated U.S. collection proceedings, resulting in a judgment entered in its favor by the U.S. District Court for the Eastern District of Pennsylvania. Bokhari’s appeal is ongoing with a stay in place, backed by a supersedeas bond of more than $2.8 million.
NOTE TO INVESTORS: The latest news and updates relating to QNTM are available in the company’s newsroom at https://nnw.fm/QNTM
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
Quantum BioPharma (NASDAQ: QNTM), a biopharmaceutical company focused on neurodegenerative, metabolic and alcohol misuse disorders, announced that a reconsideration motion filed by former CEO Dr. Raza Bokhari was fully dismissed by the Court of Appeal for Ontario. Bokhari, terminated for cause in 2021, had previously lost an arbitration claiming wrongful dismissal, which resulted in a total cost award of approximately C$2.81 million plus interest. Additional court-awarded costs have raised the amount due to over C$3 million. Quantum BioPharma has initiated U.S. collection proceedings, resulting in a judgment entered in its favor by the U.S. District Court for the Eastern District of Pennsylvania. Bokhari’s appeal is ongoing with a stay in place, backed by a supersedeas bond of more than $2.8 million.
NOTE TO INVESTORS: The latest news and updates relating to QNTM are available in the company’s newsroom at https://nnw.fm/QNTM
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
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