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News  ›  GlobeNewswire Inc.

Fermi Inc. (FRMI) Slapped With Securities Class Action Over IPO And Subsequent Disclosures -- Hagens Berman

GlobeNewswire Inc. Logo GlobeNewswire Inc. By Hagens Berman
Fermi Inc. (FRMI) Slapped With Securities Class Action Over IPO And Subsequent Disclosures -- Hagens Berman

Fermi Inc. faces a securities class action lawsuit alleging its IPO materials were misleading regarding tenant demand for Project Matador. The company's anchor tenant terminated a $150 million funding agreement in December 2025, causing Fermi's stock to plunge 33% in a single day and 52% below its October IPO price of $21.

Insights
CEG   positive

Gained 3.49% after securing a $1 billion Department of Energy loan to restart the Crane Clean Energy Center, expected to create 3,400 jobs


FRMI   negative

Company faces securities fraud allegations over misleading IPO disclosures regarding tenant demand. Anchor tenant terminated $150M funding agreement, causing 33% single-day stock decline and 52% drop from IPO price, indicating severe loss of investor confidence and potential financial distress.