Core Viewpoint - Fermi Inc. is facing potential legal claims due to allegations of misleading statements regarding its Project Matador campus and tenant commitments, which have led to significant stock price declines following the termination of a key funding agreement [5][8]. Group 1: Company Overview - Fermi Inc. (NASDAQ: FRMI) completed its initial public offering on October 1, 2025, offering approximately 32.5 million shares at $21.00 per share [6]. - The company aimed to develop a large electric generation campus for AI data centers and had identified a "First Tenant" for its Project Matador site [6]. Group 2: Legal Issues - A federal securities class action has been filed against Fermi, with a deadline of March 6, 2026, for investors to seek the role of lead plaintiff [2]. - The complaint alleges that Fermi and its executives violated federal securities laws by making false or misleading statements about tenant demand and funding commitments for Project Matador [5]. Group 3: Financial Impact - In November 2025, Fermi announced that the First Tenant had agreed to advance up to $150 million toward construction costs, which was a significant funding arrangement for the project [7]. - Following the termination of the Advance in Aid of Construction Agreement on December 12, 2025, Fermi's stock price fell more than 33%, closing at $10.09 per share, significantly below the IPO price [8].
SHAREHOLDER ACTION REMINDER: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Fermi