San Diego, January 7, 2026
Robbins LLP has filed a class action lawsuit on behalf of investors who acquired Fermi Inc. securities, alleging misleading information regarding the company’s Project Matador campus. The lawsuit claims Fermi overstated tenant demand and failed to adequately disclose its reliance on a single tenant’s funding. Following the termination of a critical funding agreement, Fermi’s stock experienced a significant decline, prompting investors to seek compensation. The deadline to participate as a lead plaintiff in the lawsuit is March 6, 2026.
Class Action Lawsuit Filed Against Fermi Inc. Over Investor Claims
Investors allege misleading information regarding Project Matador
San Diego, CA – Robbins LLP has initiated a class action lawsuit on behalf of investors who purchased or acquired Fermi Inc. (NASDAQ: FRMI) securities between October 25, 2025, and December 11, 2025, as well as those who obtained common stock linked to the registration statement from the Company’s October 2025 initial public offering (IPO). Fermi Inc. operates in the dynamic fields of energy and artificial intelligence (AI) infrastructure.
The lawsuit claims that Fermi Inc. provided misleading information regarding its business prospects by omitting crucial details about its Project Matador campus. Investors allege that the company overstated tenant demand for the project, failed to adequately disclose its reliance on a single tenant’s funding commitment, and did not caution about the significant risk associated with the possibility of the tenant rescinding its funding commitment.
Impact of the Announcement
On December 12, 2025, Fermi Inc. revealed that the initial tenant for its highly anticipated Project Matador AI campus had terminated a $150 million Advance in Aid of Construction Agreement, a critical component meant to finance the facility’s construction costs. The stock price reacted sharply to this news, declining by $5.16 per share, or 33.8%, closing at $10.09 that day. By the time the lawsuit commenced, Fermi’s stock had hit a low of $8.59 per share—reflecting a staggering 59% drop from the initial IPO price of $21.00 per share.
Eligibility and Participation in the Class Action
Investors who incurred notable losses and wish to serve as lead plaintiffs in this class action lawsuit must act swiftly, as the deadline to seek appointment is March 6, 2026. The lead plaintiff will represent the interests of all class members throughout the litigation process. Importantly, shareholders are not required to participate actively in the case to qualify for potential recovery; they may remain passive class members if they choose.
Legal Representation Structure
All representation in this case operates on a contingency fee basis. This means that shareholders pay no legal fees or expenses unless a recovery is secured in the lawsuit, providing a low-risk opportunity for investors seeking restitution for their losses.
How to Get Involved
For those who wish to monitor developments or seek more information about the class action, investors can submit a form, email attorney Aaron Dumas, Jr., or call (800) 350-6003 for further assistance.
Frequently Asked Questions (FAQ)
What is the class action lawsuit about?
The class action lawsuit alleges that Fermi Inc. misled investors regarding its business prospects by failing to disclose key information about its Project Matador campus, including overstating tenant demand and not fully disclosing the reliance on a single tenant’s funding commitment.
Who is eligible to participate in the class action?
Investors who purchased or acquired Fermi Inc. securities between October 25, 2025, and December 11, 2025, or common stock pursuant to the registration statement issued in connection with the Company’s October 2025 IPO are eligible to participate.
What is the deadline to seek appointment as lead plaintiff?
The deadline to seek appointment as lead plaintiff in the class action lawsuit is March 6, 2026.
Do I have to participate in the case to be eligible for a recovery?
No, you do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member.
How are the legal fees structured?
All representation is on a contingency fee basis, meaning shareholders pay no fees or expenses unless there is a recovery.
Key Features of the Class Action Lawsuit
| Feature | Description |
|---|---|
| Allegations | Misleading statements regarding Project Matador campus, including overstated tenant demand and undisclosed reliance on a single tenant’s funding commitment. |
| Stock Price Impact | Stock price fell $5.16 per share (33.8%) to $10.09 on December 12, 2025; declined 59% from IPO price of $21.00 per share. |
| Eligibility | Investors who purchased or acquired Fermi Inc. securities between October 25, 2025, and December 11, 2025, or common stock pursuant to the October 2025 IPO registration statement. |
| Lead Plaintiff Deadline | March 6, 2026. |
| Legal Fees | Contingency fee basis; no fees or expenses unless there is a recovery. |
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