Fermi Co-Founder Neugebauer Sues Over His Ousting in Texas Court.

Fermi Inc. co-founder Toby Neugebauersued the company and three board directors, alleging he was wrongfully terminated, according to a lawsuit filed Friday in Texas Business Court.
Neugebauer’s petition says only the company’s shareholders, not the company or its board of directors, can remove a director under both Texas law and Fermi’s organizational documents.
Neugebauer was terminated from employment on Thursday because of “conduct in violation” of his employment agreement, and as such was automatically removed from the board of directors, the company said in a filing Thursday.
The lawsuit was filed in Dallas. The energy startup is vying to ...