TendieTensor TendieTensor
You’re browsing as
Guest
Free Preview
Sign in/sign up to unlock all features.

News  ›  GlobeNewswire Inc.

FRMI SHAREHOLDER ALERT: Fermi Inc. Sued for Fraud Over Cancellation of Customer Agreement – Contact BFA Law before March 6 Deadline

GlobeNewswire Inc. Logo GlobeNewswire Inc. By Bleichmar Fonti & Auld Llp
FRMI SHAREHOLDER ALERT: Fermi Inc. Sued for Fraud Over Cancellation of Customer Agreement – Contact BFA Law before March 6 Deadline

A class action lawsuit has been filed against Fermi Inc. for securities fraud following a 33% stock price drop after the company's primary tenant terminated a $150 million funding agreement for Project Matador. The lawsuit alleges Fermi overstated tenant demand and misrepresented the agreement in its IPO registration statement. Investors have until March 6, 2026, to join the case.

Insights
FRMI   negative

Company is facing securities fraud allegations for misrepresenting tenant agreements and demand in IPO disclosures. Stock dropped 33% following announcement of primary tenant's contract termination, and the company is now subject to federal litigation under Securities Exchange Act and Securities Act violations.