Fermi, Inc. (NASDAQ: FRMI)

This lawsuit is for anyone who acquired securities in Fermi, Inc. (NASDAQ: FRMI) from October 1, 2025 to December 11, 2025.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, both in the Prospectus to the Company’s IPO, and throughout the time period above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by failing to tell investors that the first tenant for the Company’s anticipated Project Matador AI campus was likely to terminate its $150 million Advance in Aid of Construction Agreement, which would have supplied construction costs for the facility.

On December 12, 2025, 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. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume and currently trades lower than its IPO price.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Fermi, Inc. (NASDAQ: FRMI) from October 1, 2025 to December 11, 2025 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.