Fermi Investors Urged to Seek Lead Role in Project Matador Securities Suit Before March 6

Overview

• The putative class action, captioned Lupia v. Fermi Inc., No. 1:26-cv-00050 (S.D.N.Y.), targets disclosures tied to Fermi’s Project Matador.
• Plaintiffs say offering materials and later statements overstated tenant demand and concealed dependence on a single funding source tied to the project.
• Fermi disclosed on Dec. 12, 2025 that the “First Tenant” terminated a $150 million Advance in Aid of Construction agreement, after which shares fell 33.8% to $10.09.
• The proposed class covers investors who bought in the October 2025 IPO or between Oct. 1 and Dec. 11, 2025.
• Hagens Berman, Glancy Prongay & Murray, and The Gross Law Firm have issued notices inviting investors to seek lead-plaintiff status by March 6, 2026, with whistleblower outreach underway.