Faruqi & Faruqi, LLP Investigates Claims on Behalf of Fermi Investors
On January 9, 2026, Faruqi & Faruqi, LLP, a renowned national securities law firm, announced an investigation into potential claims against Fermi Inc. (NASDAQ: FRMI). This inquiry comes in light of the recent federal securities class action filed against the company, with a deadline for lead plaintiffs set for March 6, 2026. The firm encourages investors who suffered losses related to Fermi’s securities to explore their legal options.
Investor Options and Contact Information
Investors who acquired Fermi common stock could be eligible for restitution if they purchased securities:
- According to the Registration Statement issued in connection with the company's October 2025 IPO.
- Between October 1, 2025, and December 11, 2025, inclusive (the “Class Period”).
Investors are urged to contact Josh Wilson of Faruqi & Faruqi directly at 877-247-4292 or 212-983-9330 (Ext. 1310) for more information regarding their rights and potential claims.
Allegations Against Fermi Inc.
The class action lawsuit alleges that Fermi and its executives violated federal securities laws by making false and misleading statements and failing to disclose critical information:
- The company overstated tenant demand for its Project Matador campus.
- It relied excessively on a single tenant’s funding commitment for financing construction.
- There was a considerable risk that the tenant would terminate its financial commitment.
- As a result, positive statements regarding Fermi’s operations and prospects were misleading.
Background on Fermi's IPO and Funding Challenges
Fermi completed its initial public offering on October 1, 2025, working with approximately 32.5 million shares at a price of $21.00 per share. The company aimed to establish a large electric generation campus to support AI data centers, highlighting a significant tenant in its Registration Statement.
In November 2025, it was disclosed that this tenant had signed an Advance in Aid of Construction Agreement to advance up to $150 million for construction costs. However, on December 12, 2025, the tenant terminated this agreement, which was crucial for funding Project Matador. Consequently, Fermi’s stock price plummeted by over 33%, settling at $10.09 per share.
Lead Plaintiff Status and Other Information
The lead plaintiff in the class action will be appointed based on the largest financial interest in the claims. Any member of the affected securities class may apply through their counsel to serve as lead plaintiff or may choose to remain an absent class member. Notably, participation in any recovery is not contingent on being a lead plaintiff.
Faruqi & Faruqi welcomes any information from whistleblowers, former employees, or investors regarding Fermi’s operations. For further information on the Fermi class action, please visit www.faruqilaw.com/FRMI, or contact Josh Wilson directly.
Engagement and Follow-up
Stay informed on developments regarding the FRMI class action by following Faruqi & Faruqi on social media platforms such as LinkedIn, X, and Facebook. This is a legal advertisement; prior results do not guarantee similar outcomes in future matters.