Morganti & Co, P.C.: Miller v. FSD Pharma, Inc. Settlement Approval Hearing to be held February 4, 2021


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At the conclusion of full-day mediation in September 2020, the parties agreed to settle the Action to fully, definitively and permanently resolve all claims asserted against FSD, subject to approval of a written Settlement Agreement by the Court at the Settlement Approval Hearing.

The Settlement

The terms of settlement (“Settlement”) include the Defendant’s consent to certification of the Action for settlement purposes only, payment of the amount of $5.5 million CAD on behalf of the Defendant (FSD and its insurers), a full and final release of all claims that were asserted or could have been asserted against the Defendant by class members in the Action, and the Defendant’s express denial of any liability in respect of the claims alleged in the Action and of any kind whatsoever. The Settlement Agreement may be viewed at,

If the Settlement is approved at the Settlement Approval Hearing, a further notice will be published which will include instructions on how Class Members can file Claim Forms to participate in the pro rata distribution of the net settlement funds and the deadline for doing so.

The Class

If you acquired class B common shares of FSD Pharma, Inc. on or after September 20, 2018, and held some or all of those shares until at least February 7, 2019, you will likely be entitled to participate in the settlement after the Court has approved it.


At the Settlement Approval Hearing, the Court will consider any objections to the proposed Settlement by the Class Members if the objections are submitted in writing in the manner described in the Notice of Certification and Proposed Settlement of the FSD Pharma, Inc. Securities Class Action located at


Class Members who wish to pursue their own action or who do not want to be bound by the outcome of this Action MUST OPT-OUT of the Action.

If you want to opt-out of the Action, you must send an OPT-OUT FORM stating that you elect to opt-out of the Class in the FSD Pharma, Inc. Class Action.

The Opt-Out Form is available at and must be received by the Administrator on or before January 22, 2021 at 5:00pm EST.

If the Settlement is approved by the Court, each Class Member who does not opt-out of the Action will be bound by the terms of the Settlement, including a release of all claims against the Defendant, and will not be allowed to pursue an independent action.

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