Jan 22, 2026 | Posted by Abdul-Rahman Oladimeji
Fermi America, the company behind the proposed up to 11GW data center campus in Amarillo, Texas, has been hit with a class action lawsuit.
The suit filed by national plaintiffs' law firm Berger Montague PC was made on behalf of investors who purchased or otherwise acquired Fermi securities during the period of October 1, 2025, through December 11, 2025, which includes the company’s initial public offering (IPO).
According to the lawsuit, the complaints arose following the withdrawal of Fermi’s first tenant for its data center campus, which would have supported construction costs for the facility.
According to reports, the deal was valued at $150 million. However, a statement from the firm earlier this month said that the exclusivity period detailed in the LOI had now expired and that the potential tenant had terminated the agreement, though discussions continue over a lease for data center space on the campus.
