GBB Drink Labs announced the initiation of a lawsuit against HUGE in response to FSD Pharma’s non-compliance with a Cease-and-Desist letter issued on April 14th, 2023. The lawsuit, filed on May 1st, 2023, in the U.S. District Court for the Southern District of Florida, seeks $53 million in damages for material breach of a mutual nondisclosure agreement and trade secret misappropriation.
According to the complaint, GBB Drink Labs and FSD Pharma had engaged in seven months of discussions exploring a business opportunity related to GBB’s blood alcohol detoxification drink. FSD Pharma publicly disclosed the misappropriation of GBB’s trade secrets to both current and potential investors in one of its press releases. The press release highlighted the launch of a new research and development program addressing unmet medical needs for alcohol misuse but deliberately omitted the crucial information regarding the misappropriation.
GBB’s lawsuit alleges that FSD Pharma utilized GBB’s proprietary and confidential material to secure capital, attract renowned entrepreneurs to its advisory board, and artificially inflate the price of FSD Pharma’s publicly traded stock.
In response to these actions, GBB Drink Labs is seeking compensatory and punitive damages, along with an injunction against FSD Pharma to prevent any further unlawful disclosure and use of GBB’s trade secrets. The lawsuit, identified as GBB DRINK LAB, INC. v. FSD BIOSCIENCES INC., has been filed with case number 0:23-cv-60800-AHS in the U.S. District Court for the Southern District of Florida.
Whole case story – https://www.sinkingstocks.com
GBB has a patented formula that accelerates the process of converting alcohol to sugar in the body. By enhancing the metabolic pathways that facilitate this process, the formula can help the body clear alcohol much faster than normal. The Company has been working on a proprietary drink for several years using its patented formula.
In May 2023, Jupiter Wellness, Inc., a publicly traded company now trading under the symbol JUPW, successfully acquired the patents of GBB Drink Labs, with the closing date set for August 11th of the same year. In their press release, the company proudly declared that their product, “Safety Shot,” stands as the world’s first rapid blood alcohol detoxification product. Developed by a doctor, patented, and validated through initial research, Safety Shot boasts the ability to lower blood alcohol content by up to 50% in just 30 minutes.
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