Law Offices of Frank R. Cruz Encourages Fermi Inc. (FRMI) Shareholders to Inquire About Securities Fraud Class Action

LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of shareholders who purchased Fermi Inc. (“Fermi” or the “Company”) (NASDAQ: FRMI) (a) common stock pursuant and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s October 2025 initial public offering (“IPO” or the “Offering”); and/or (b) securities between October 1, 2025 and December 11, 2025, inclusive (the “Class Period”). Fermi investors have until March 6, 2026, to file a lead plaintiff motion.

IF YOU SUFFERED A LOSS ON YOUR FERMI, INC. (FRMI) INVESTMENTS, CLICK HERE TO SUBMIT A CLAIM TO POTENTIALLY RECOVER YOUR LOSSES IN THE ONGOING SECURITIES FRAUD LAWSUIT.

You can also contact the Law Offices of Frank R. Cruz to discuss your legal rights by email at [email protected], by telephone at (310) 914-5007, or visit our website at www.frankcruzlaw.com.

What Happened?

On October 1, 2025, Fermi conducted its IPO, selling 37,375,000 shares of common stock at a price of $21.00 per share.

On December 12, 2025, before the market opened, Fermi revealed the first tenant for the Company’s anticipated Project Matador AI campus had terminated its $150 million Advance in Aid of Construction Agreement, which would have supplied construction costs for the facility.

On this news, the Company’s stock price fell $5.16 per share, or 33.8%, to close at $10.09 on December 12, 2025, on unusually heavy trading volume.

By the commencement of this action, Fermi stock has traded as low as $8.59 per share, a 59% decline from the $21.00 per share IPO price.

What Is The Lawsuit About?

The complaint filed in this class action alleges that in the Registration Statement and throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) the Company overstated its tenant demand for its Project Matador campus; (2) the extent to which Project Matador would rely on a single tenant’s funding commitment to finance the construction of Project Matador; (3) there was a significant risk that that tenant would terminate its funding commitment; and (4) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Contact Us To Participate or Learn More:

If you purchased Fermi common stock and/or securities, wish to learn more about this action, or have any questions concerning this announcement or your rights or interests with respect to these matters, please click HERE or contact us at:

Law Offices of Frank R. Cruz

2121 Avenue of the Stars, Suite 800

Century City, California 90067

Telephone: 310-914-5007

Email: [email protected]
Visit our website at: www.frankcruzlaw.com

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

Law Offices of Frank R. Cruz

2121 Avenue of the Stars, Suite 800

Century City, California 90067

Telephone: 310-914-5007

Email: [email protected]
Visit our website at: www.frankcruzlaw.com