Texas Business Court Denies Former CEO's Request for Emergency Relief Against Fermi's Board
A Texas Business Court denied all three of former CEO Neugebauer's requests for a temporary restraining order against Fermi's board, with Judge Brian Stagner entering the order on September 16, 2026 in Neugebauer v. Fermi Inc. The court held the Texas Business Organizations Code expressly permits the board's bylaw amendments — including the requirement that holders of 70% of outstanding shares approve specified bylaw changes — as well as the director-election voting standard and the September 10 nomination deadline ahead of the October 30, 2026 annual meeting.
Key figures
- Court order date
- September 16, 2026
- Annual meeting date
- October 30, 2026
- Nomination deadline
- September 10, 2026
- Tro requests denied
- 3
- Bylaw amendment date
- May 13, 2026
- Supermajority bylaw threshold
- 70%
AI analysis
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