Investor Lawsuits Mount Against Fermi Over Project Matador Disclosures
Law firms are seeking lead plaintiffs by early March, with competing class periods signaling procedural fights ahead.
Overview
- Several plaintiff firms announced or filed securities class actions on January 15–16 targeting Fermi Inc. after its October 2025 IPO.
- Most notices define the class as investors tied to the IPO and those who bought between October 1 and December 11, 2025, with March 6, 2026 listed as the lead‑plaintiff deadline.
- Portnoy Law Firm set a different window of February 26 to August 4, 2025 and a March 2, 2026 lead‑plaintiff deadline, highlighting divergent class‑period strategies.
- Complaints allege Fermi overstated tenant demand for Project Matador and understated reliance on a single prospective tenant’s funding commitment.
- Fermi disclosed on December 12, 2025 that the First Tenant terminated a funding agreement the prior day, and the stock fell more than 33% that day.