Business
Fermi Board Announces Actions to Confirm No Special Meeting of Shareholders Has Been Called
Fermi Inc. (NASDAQ: FRMI) (LSE: FRMI), operating as Fermi America™ ("Fermi" or the "Company"), today announced the unanimous decision by the Risk and Disclosure Committee of its Board of Directors (the "Board") to confirm the prior cancellation of the special meeting of shareholders (the "Special Meeting") former CEO Toby Neugebauer attempted to call on the eve of his removal for cause and scheduled for May 29, 2026.
About this update from Fermi Inc.
[{"type":"text","content":"Former CEO Toby Neugebauer is Attempting to Fill the Board with His Acolytes to Force a Sale of the Company at a Depressed Valuation – Fermi's Stock Declined More than 80% During Neugebauer's Tenure","length":211,"tagName":"p","attribs":{}},{"type":"text","content":"Fermi Board Will Continue to Take Actions That it Believes is in the Best Interests of All Shareholders","length":103,"tagName":"p","attribs":{}},{"type":"text","content":"DALLAS, May 11, 2026 /PRNewswire/ -- Fermi Inc. (NASDAQ: FRMI) (LSE: FRMI), operating as Fermi America™ ("Fermi" or the "Company"), today announced the unanimous decision by the Risk and Disclosure Committee of its Board of Directors (the "Board") to confirm the prior cancellation of the special meeting of shareholders (the "Special Meeting") former CEO Toby Neugebauer attempted to call on the eve of his removal for cause and scheduled for May 29, 2026.","length":507,"tagName":"p"},{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":144,"url":"https://media.zenfs.com/en/prnewswire.com/7370d096722637275e1c7620a73f8328"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/9jeNZDksq9Z8Eos4RIT9WQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTI1NA--/https://media.zenfs.com/en/prnewswire.com/7370d096722637275e1c7620a73f8328","width":400,"height":144},"resize_sm":{"url":"https://s.yimg.com/ny/api/res/1.2/zgoQjHRRyA6_y4ux3T_Nbg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTY0MDtoPTIzMA--/https://media.zenfs.com/en/prnewswire.com/7370d096722637275e1c7620a73f8328","width":400,"height":144}},"href":"https://mma.prnewswire.com/media/2977268/Fermi_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Mr. Neugebauer attempted to call the Special Meeting to appoint five directors to the Board, thereby allowing him to take control of the Board and force the sale of the Company at a depressed valuation. As previously announced, Mr. Neugebauer was removed from the office of CEO and subsequently terminated for cause as a direct result of serious misconduct violating the terms of his employment agreement as well as multiple company policies. The Company did not consider the Special Meeting validly requested, and that request was previously rescinded by the Offic...