Core Viewpoint - Fermi Inc. is facing potential legal claims due to allegations of misleading statements regarding its Project Matador campus and tenant demand, leading to significant stock price declines following the termination of a key funding agreement [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 [7]. - 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 [7]. 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 [4]. - The complaint alleges that Fermi overstated tenant demand and relied heavily on a single tenant's funding commitment, which posed a significant risk of termination [6]. Group 3: Financial Impact - In November 2025, Fermi announced that the First Tenant agreed to advance up to $150 million for construction costs, but this agreement was terminated on December 11, 2025, leading to a stock price drop of over 33% to $10.09 per share [8][9].
INVESTOR NOTICE: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Fermi