Fermi Shareholder Toby Neugebauer Wins Discovery

Toby Neugebauer, co-founder and largest shareholder of Fermi Inc., has secured a significant victory in the United States — Texas Business Court, which granted his emergency motion for expedited discovery. This action is part of a larger dispute where Neugebauer is challenging the Fermi Board's attempts to suppress shareholder rights, including the adoption of bylaws imposing a 70% supermajority voting requirement to expand the board. The Fermi Board, driven by members like Rick Perry, had previously lost a motion in federal court regarding a special meeting and then pivoted to the United States — Texas Business Court to seek judicial clearance for its bylaws, aiming to block shareholder accountability. Neugebauer views this decision as a landmark win for shareholder rights and good governance in United States — Texas, emphasizing its importance for the state's pro-business environment and urging shareholders to vote for a special meeting to decide Fermi Inc.'s future.