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CLAIMS BAR DEADLINE IS JUNE 21, 2021, 5:00 PM EST
The settlement of the Action, without an admission of liability on the part of the Defendant, was approved by The Honourable Justice Edward Morgan on February 4, 2021.
In the various sections of this website, there is information regarding Class Member’s rights and very important information regarding this class action:
In the various sections of this website,
Class Members (or "Class") are deemed to be all persons and entities, excluding certain persons associated with the Defendant, wherever they may reside or be domiciled, who purchased or otherwise acquired FSD Pharma, Inc. (“FSD”) class B common shares in the secondary market, on or after September 20, 2018, and held some or all of those securities until on or after the close of trading on February 6, 2019.
On February 22, 2019, a proposed class action was commenced on behalf of investors who purchased FSD class B common shares in the secondary market during the Class Period, against FSD in the Ontario Superior Court: Anne Miller v. FSD Pharma, Inc. CV-19-614981-00CP (the " Action"). The Plaintiff in the Action alleges that the Defendant made misrepresentations during the Class Period related to FSD’s business, operations and finances by omitting from core documents, non-core documents and statements, material facts regarding the status of its project with Auxly Cannabis Corp. to build-out 220,000 square feet of cannabis cultivation space in Cobourg, Ontario.
FSD and its insurers will pay CAD $5.5 million (the “Settlement Amount”), in full and final settlement of all claims against FSD in the Action. Class Counsel Fees, including out-of-pocket expenses and taxes, were fixed by the Court as a first charge on the Settlement Amount in the amount of thirty (30) percent of CAD $5,500,000.00, plus disbursements, plus taxes. The settlement for the Class, less the Class Counsel Fees and disbursements, administrator’s expenses, and taxes, will be distributed to the Class on a pro rata basis in accordance with the Court-approved Plan of Allocation.
The Settlement Agreement and Plan of Allocation may be viewed in the Documents section of this website.
If there is a conflict between the content of this website, the provisions of the Notice and the Settlement Agreement, the Court Order dated February 4, 2021 shall prevail.
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