Core Viewpoint - Fermi Inc. is facing a federal securities class action due to allegations of misleading statements regarding its Project Matador campus and tenant commitments, leading to significant investor losses following the termination of a key funding agreement [5][8]. 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 [6]. - The registration statement highlighted a "First Tenant" for the Project Matador site, which was expected to lease a portion of the site under a long-term agreement [6]. Group 2: Allegations and Legal Actions - The complaint against Fermi alleges that the company overstated tenant demand and relied heavily on a single tenant's funding commitment, which posed a significant risk of termination [5]. - On December 12, 2025, Fermi disclosed that the First Tenant had terminated the Advance in Aid of Construction Agreement, which was crucial for funding the Project, resulting in a stock price drop of over 33% to $10.09 per share [8]. Group 3: Investor Actions - Faruqi & Faruqi, LLP is encouraging investors who suffered losses during the class period from October 1, 2025, to December 11, 2025, to discuss their legal options [2][10]. - The deadline for investors to seek the role of lead plaintiff in the class action is March 6, 2026 [2].
UPCOMING DEADLINE: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Fermi