Fermi Inc. faces class action lawsuit after IPO stock market crash
A class action lawsuit has been launched against Fermi Inc. (NASDAQ: FRMI) by the law firm Pomerantz LLP. The case follows a steep decline in the company’s stock market value since its October 2025 initial public offering (IPO). Fermi completed its IPO on October 1, 2025, selling 32.5 million shares at $21.00 each. Shortly after, the company’s stock price dropped significantly, leaving investors with losses. On December 12, 2025, Fermi disclosed that a potential tenant had pulled out of a $150 million construction agreement for its Project Matador data centre campus, adding further pressure on the stock. Pomerantz LLP, a firm specialising in securities class actions, has now filed a lawsuit on behalf of affected investors. Those who bought shares during the IPO have until March 6, 2026, to apply to the Court for appointment as Lead Plaintiff. No litigation process or lead plaintiff claim has yet been scheduled for that date. The lawsuit centres on claims that investors suffered financial harm due to Fermi’s stock performance. Eligible shareholders must act by the March 2026 deadline to seek a leadership role in the case. Pomerantz LLP continues to represent class members in pursuing potential damages.
