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Fermi Inc. Investor Class Action: What You Need to Know

In an important update for shareholders of Fermi Inc. (NASDAQ: FRMI), the national shareholder rights law firm Hagens Berman has announced a significant opportunity for investors impacted by substantial losses. As of January 19, 2026, the firm is actively notifying affected investors regarding the upcoming March 6, 2026, lead plaintiff deadline for a pending securities class action lawsuit.

Background on Fermi Inc.

Fermi Inc. operates within the cutting-edge sphere of AI and energy, emphasizing its flagship project known as "Project Matador." This large-scale endeavor is heralded as a significant data center development meant to support the burgeoning demands of artificial intelligence technology. However, the recent actions of the company have raised eyebrows and concerns, particularly regarding their transparency with investors.

The class action lawsuit, identified as Lupia v. Fermi Inc., No. 126-cv-00050 (S.D.N.Y.), is rooted in allegations that Fermi misrepresented critical data around tenant demand and concealed vital risks associated with its primary anchor tenant's financial commitments. Investors who purchased Fermi securities during the period of its IPO — specifically between October 1, 2025, and December 11, 2025 — may be eligible to participate.

The Allegations Against Fermi Inc.

A major contention of the lawsuit revolves around Fermi's claims about Project Matador, particularly the supposed agreement with a major funding partner, which convinced many investors to buy into the IPO. Notably, the company touted a lease agreement along with a $150 million Advance in Aid of Construction Agreement (AICA) with what it referred to as an investment-grade “First Tenant.”

However, in a shocking reversal, just days after the exclusivity period expired, Fermi disclosed that this crucial agreement had been terminated. This revelation not only sent shockwaves through the market but caused Fermi's stock to nosedive by an astonishing 33.8% in a single day, plummeting from an IPO price of $21.00 to approximately $10.09.

This decline raised pressing questions regarding whether Fermi’s management had been forthcoming about the project’s viability and the potential risks, thus misleading investors who were operating under the assumption that the project was on stable footing.

Taking Action: Your Rights as an Investor

The window for investors to become lead plaintiffs in this case is drawing near, with the deadline set for March 6, 2026. It is vital for shareholders who have experienced any substantial loss to consider their options. Affected investors are encouraged to reach out for more information on how they can participate in this lawsuit.

If you believe you qualify, Hagens Berman has made it easy to engage. Interested parties can submit their trader information via the firm’s secure portal or contact their specialized legal team directly at [email protected] or by calling 844-916-0895.

Additionally, whistleblowers or individuals possessing non-public information related to Fermi may wish to explore options under the SEC Whistleblower program, which offers financial rewards for significant input that aids in uncovering corporate misdoings.

Conclusion

As the deadline approaches, affected Fermi investors have a unique opportunity to come together and hold the company accountable for its alleged misrepresentation and risky business practices. The outcome of this class action may not only provide financial restitution to those harmed but also influence corporate governance and transparency measures within the tech investment landscape.

For ongoing updates and further information regarding the Fermi class action, follow legal news from Hagens Berman and stay informed about your rights.