Core Viewpoint - Fermi Inc. is facing a federal securities class action lawsuit due to allegations of misleading statements regarding its Project Matador campus and tenant commitments, which has led to significant investor losses following the termination of a key funding agreement [4][6][9]. Group 1: Company Overview - Fermi Inc. (NASDAQ: FRMI) completed its IPO on October 1, 2025, offering approximately 32.5 million shares at $21.00 per share, with plans to develop a large electric generation campus for AI data centers [7]. - The registration statement highlighted a "First Tenant" for the Project Matador site, with a letter of intent signed on September 19, 2025, for a long-term lease [7]. Group 2: Legal Allegations - The complaint alleges that Fermi and its executives violated federal securities laws by making false or misleading statements about tenant demand and the reliance on a single tenant's funding for Project Matador [6]. - Specific allegations include overstating tenant demand, failing to disclose risks related to the tenant's funding commitment, and misleading investors about the company's business prospects [6]. Group 3: Market Reaction - Following the announcement on December 12, 2025, that the First Tenant had terminated the Advance in Aid of Construction Agreement, Fermi's stock price dropped over 33%, closing at $10.09 per share, significantly below the IPO price [9].
FRMI INVESTOR NOTICE: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Fermi