Core Viewpoint - Hagens Berman is notifying investors in Fermi Inc. (NASDAQ: FRMI) about a pending securities class action related to alleged misrepresentations regarding the demand for its Project Matador AI data center and the stability of its primary tenant [1] Summary by Relevant Sections Allegations of Misrepresentation - The lawsuit claims that Fermi misrepresented the demand for its flagship Project Matador and the reliability of its primary anchor tenant [1] - The complaint states that the misstatements were revealed on December 12, 2025, when Fermi announced the termination of a $150 million Advance in Aid of Construction Agreement (AICA) by its first tenant, leading to a nearly 34% drop in stock price [1] Class Action Details - The class action seeks to represent purchasers of Fermi Inc. common stock related to the October 2025 IPO and securities acquired between October 1, 2025, and December 11, 2025 [1] - Following the announcement of the AICA termination, Fermi's stock price fell 33.8% in one day, trading as low as $8.59 per share, a 59% decline from the IPO price of $21.00 per share [1] Concealed Risks and Overstatements - The complaint alleges that Fermi concealed risks associated with relying on a single tenant's funding commitment for Project Matador and overstated the actual demand for its multi-gigawatt capacity to attract investors [1]
FRMI INVESTOR ACTION NOTICE: Hagens Berman Encourages Investors in Fermi (FRMI) to Contact Firm