Core Viewpoint - A class action has been filed against Fermi Inc. for allegedly misleading investors regarding its business prospects, particularly related to its Project Matador campus [1][2]. Allegations - Fermi Inc. is accused of overstating tenant demand for its Project Matador campus [2]. - The company allegedly did not disclose the reliance on a single tenant's funding commitment for the construction of Project Matador [2]. - There was a significant risk that the tenant could terminate its funding commitment, which was not communicated to investors [2]. Stock Price Impact - On December 12, 2025, Fermi announced that the first tenant for Project Matador had terminated a $150 million funding agreement, leading to a stock price drop of $5.16 per share, or 33.8%, closing at $10.09 [3]. - By the time of the class action announcement, Fermi's stock had traded as low as $8.59 per share, representing a 59% decline from the IPO price of $21.00 per share [3]. Class Action Participation - Shareholders interested in serving as lead plaintiffs must submit their papers by March 6, 2026 [4]. - Participation in the case is not required to be eligible for recovery; shareholders can remain absent class members [4].
FRMI Class Action Notice: Robbins LLP Reminds Investors of the Lead Plaintiff Deadline in the Fermi Inc. Class Action