Fermi seeks court order to block Neugebauer’s shareholder meeting

According to documents filed in the United States District Court for the Northern District of Texas, Lubbock Division, Fermi Inc. has filed a petition for a temporary restraining order against former chief executive officer Toby Neugebauer.

Neugebauer was terminated from his position as part of the company's board of directors after stepping down as CEO on April 17, following a board vote for his removal. He remained on the board until April 30.

On May 5, Neugebauer filed his own request for a temporary restraining order, claiming that the only valid method for his removal required a shareholder vote that he says did not occur.

He also called for a Special Meeting of Shareholders scheduled for May 29.

According to the latest court filings, Fermi has submitted its own application for a temporary restraining order against Neugebauer and is also seeking a preliminary injunction.

The company alleges that Neugebauer has waged a campaign to wrest control of the company from its board of directors following his removal as CEO.

Fermi is asking the court to block any special meeting of shareholders scheduled for May 29 while the dispute remains pending.

Both filings set up a contested legal battle over control of Fermi's governance structure, with each side seeking court intervention to halt the other's actions.

Court officials in the Northern District of Texas will now consider the competing requests for temporary restraining orders and the request for a preliminary injunction as the dispute continues.

All allegations remain subject to judicial review and have not yet been adjudicated by the court.

The outcome of the filings could determine whether the May 29 shareholder meeting proceeds as scheduled or is halted pending further orders according to filings submitted.