Core Viewpoint - A class action lawsuit has been filed against Fermi Inc. for allegedly misleading investors regarding the demand for its Project Matador and the funding status during the class period from October 1, 2025, to December 11, 2025 [1][3]. Company Overview - Fermi Inc. is headquartered in Amarillo, Texas, and aims to establish a network of large, grid-independent data centers powered by nuclear, natural gas, solar, and battery energy [2]. - The company's flagship project, "Project Matador," is designed to create the world's largest private energy campus, providing dedicated power for AI data centers [2]. Lawsuit Details - The lawsuit claims that Fermi misled investors about tenant demand for Project Matador and the project's funding status [3]. - It is alleged that the construction financing for Project Matador was heavily reliant on a single tenant's funding commitment, which was not disclosed to investors [3]. - The lawsuit highlights the significant risk that the tenant could terminate its funding commitment, which was not communicated to investors [3]. Impact of Tenant Termination - On December 12, 2025, Fermi announced that the first tenant for the Project Matador AI campus had terminated its $150 million Advance in Aid of Construction Agreement, leading to a significant drop in Fermi's share price by nearly 34%, closing at $10.09 per share [4].
CLASS ACTION REMINDER: Berger Montague Advises Fermi Inc. (NASDAQ: FRMI) Investors to Inquire About a Securities Fraud Lawsuit by March 6, 2026