Core Viewpoint - Hagens Berman is notifying investors about a pending securities class action against Fermi Inc. related to misrepresentations regarding its Project Matador and the stability of its primary tenant [1][3]. Allegations - The litigation claims that Fermi misrepresented the demand for its Project Matador AI data center, leading to inflated expectations [3][8]. - The complaint highlights that Fermi's IPO materials allegedly created a misleading picture of demand to secure financing [4][8]. - It is alleged that Fermi's registration statement overstated the actual demand for Project Matador's capacity to attract higher valuations [8]. Key Events - On December 12, 2025, Fermi announced the termination of a $150 million Advance in Aid of Construction Agreement by its first tenant, which led to a nearly 34% drop in stock price [3][8]. - Following the announcement, Fermi's stock price fell to as low as $8.59 per share, representing a 59% decline from the IPO price of $21.00 per share [8]. Class Action Details - The class action lawsuit seeks to represent investors who purchased Fermi shares during the October 2025 IPO and those who acquired shares between October 1, 2025, and December 11, 2025 [8]. - The lead plaintiff deadline for the class action is set for March 6, 2026 [1][7].
FRMI 1-WEEK DEADLINE ALERT: Fermi Inc. Facing Securities Class Action Over IPO And Subsequent Disclosures – Hagens Berman