Core Viewpoint - A class action lawsuit has been filed against Fermi Inc. and its executives due to significant stock price drop attributed to potential violations of federal securities laws [1][3]. Group 1: Lawsuit Details - The lawsuit asserts securities fraud claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Sections 11 and 15 of the Securities Act of 1933 [3]. - Investors have until March 6, 2026, to request to lead the case in the U.S. District Court for the Southern District of New York [3]. Group 2: Company Background - Fermi Inc. is an energy and AI infrastructure company aiming to build large-scale nuclear reactors to support grid-independent data centers for AI companies [4]. - The company's flagship project, Project Matador, is designed to provide dedicated power for AI workloads [4]. Group 3: IPO and Allegations - Fermi completed its IPO in October 2025, claiming strong demand for Project Matador and securing a 20-year lease with an investment-grade-rated tenant [5]. - Allegations suggest that Fermi overstated tenant demand and misrepresented the agreement with the First Tenant [6]. Group 4: Stock Price Impact - Following the announcement of the First Tenant's termination of the Advance in Aid of Construction Agreement, Fermi's stock dropped by $5.16, or over 33%, from $15.25 to $10.09 per share [7].
FERMI CLASS ACTION: Fermi Inc. Sued for Securities Fraud after Cancellation of Customer Agreement leads to a 33% Stock Drop – Contact BFA Law by March 6