Core Viewpoint - Fermi Inc. is facing a federal securities class action lawsuit due to allegations of misleading statements regarding its Project Matador campus and tenant commitments, which has led to significant financial losses for investors [4][7]. 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 [5]. - The company had identified a "First Tenant" for its Project Matador site, which was expected to provide a stable funding source [5]. Legal Issues - The lawsuit claims that Fermi and its executives violated federal securities laws by making false or misleading statements about tenant demand and funding commitments for Project Matador [4]. - The First Tenant had initially agreed to advance up to $150 million for construction costs but terminated this agreement on December 12, 2025, leading to a more than 33% drop in Fermi's stock price [6][7]. Investor Actions - Investors who purchased Fermi securities during the class period (October 1, 2025, to December 11, 2025) are encouraged to contact Faruqi & Faruqi, LLP to discuss their legal rights and options [2][8]. - There is a deadline of March 6, 2026, for investors to seek the role of lead plaintiff in the class action lawsuit [2].
FRMI INVESTOR NOTICE: Faruqi & Faruqi, LLP Reminds Fermi (FRMI) Investors of Securities Class Action Deadline on March 6, 2026