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Update: Fermi Shares Fall After Receiving Subpoena From Eastern District of New York Over Project Matador

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(Updates with the company's latest stock move in the headline and first paragraph.)

Fermi (FRMI) shares were down 3.1% in Monday afternoon trading after it received a subpoena from the US District Court for the Eastern District of New York on July 30 requesting documents related to Project Matador, the company and certain former management members.

The company also received a voluntary document-production request from the US Securities and Exchange Commission on Aug. 3 involving similar matters, according to a Friday filing.

Fermi said both requests are broad and do not contain any allegations of wrongdoing and that it is fully cooperating with the EDNY and SEC, it added.

Price: $6.21, Change: $-0.20, Percent Change: -3.05%

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