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Fermi Inc. Investors Alerted About Class Action Deadlines

On January 21, 2026, the national shareholder rights law firm Hagens Berman announced a crucial notice for investors in Fermi Inc. (NASDAQ: FRMI). Stockholders are being urged to be aware of an approaching deadline of March 6, 2026, regarding a securities class action lawsuit that deals with serious allegations surrounding the company's ambitious Project Matador.

Background of the Case

The class action lawsuit, filed under the case name Lupia v. Fermi Inc., accuses Fermi of misleading investors regarding its flagship AI campus, Project Matador, especially about tenant demand and risks connected to its financial backers. Investors who acquired Fermi securities during and after the company's initial public offering (IPO) on October 2025 until December 11, 2025, and have suffered considerable losses as a result are particularly encouraged to take action.

Allegations Against Fermi Inc.

At the heart of the lawsuit are claims that Fermi overstated tenant interest in Project Matador and failed to adequately disclose significant risks, particularly in relation to its anchor tenant. The lawsuit documents that a pivotal $150 million Advance in Aid of Construction Agreement (AICA) with an investment-grade tenant was crucially involved in the financing of the project.

However, things took a turn on December 12, 2025, when Fermi announced the termination of this key agreement shortly after the exclusivity period with their anchor tenant expired. This shocking revelation led to an immediate 33.8% drop in Fermi's stock price, plummeting to $10.09 per share, more than 50% below its IPO price of $21.00.

The Impact on Investors

Reed Kathrein, a partner at Hagens Berman, stated that they're actively investigating whether Fermi management was upfront about the actual circumstances surrounding Project Matador. The firm's goal is to ensure that investors are made aware of potential misrepresentations that could have impacted their investment decisions.

The class action points out that the abrupt exit of the tenant likely removed a critical funding source, reshaping the perceived risks associated with Project Matador and the company as a whole. As a result, affected investors are urged to consider joining the class action to recover their losses.

Frequently Asked Questions

What is the lawsuit against Fermi Inc. about?

The lawsuit claims that Fermi misrepresented the demand for its Project Matador campus and did not disclose the risks associated with losing crucial funding from its primary tenant.

What effect did the tenant's exit have on Fermi’s stock?

According to the allegations, the tenant's withdrawal from the $150 million AICA agreement triggered a remarkable decline in Fermi's stock price, indicating heightened execution risk for its ambitious project.

What is the lead plaintiff deadline?

Investors wishing to take part as lead plaintiffs in the class action must submit their petitions before March 6, 2026.

How can investors reach out for more information?

Hagens Berman has made available a secure portal for investors to submit their trading details or contact them directly through the provided email address. Significant details and updates can also be found on the firm's website.

Conclusion

Hagens Berman emphasizes that this notification clarifies the importance of vigilance among investors, particularly regarding the turbulent developments surrounding Fermi Inc.’s Project Matador. The firm's commitment to holding corporations accountable sets a standard for investor protection and corporate transparency.

Investors with non-public information regarding Fermi Inc. are encouraged to consider being whistleblowers under the SEC's program, which offers financial rewards.

For further assistance, interested parties are advised to contact Hagens Berman through their dedicated channels to explore their rights and options moving forward.