Texas court denies former Fermi CEO bid to block board bylaw changes
FRMI•Court denies emergency relief in Neugebauer v. Fermi
- Texas Business Court denied a former CEO’s bid for emergency relief in Neugebauer v. Fermi, rejecting all requested temporary restraining orders.
- The ruling leaves in place board-adopted bylaw changes, including a 70% shareholder vote threshold for certain bylaw amendments.
- The court also declined to block the director-election voting standard in amended bylaws.
- The nomination and proposal deadline for the Oct. 30, 2026 annual meeting remains effective following the denial.
- The order found no sufficient factual showing of fraud or improper purpose, with no discovery granted; underlying claims remain pending.
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