FRMI is trading 5% down at $8.97 as investors react to escalating governance turmoil and intensifying shareholder activism.
- A Texas Business Court granted co-founder and largest shareholder Toby Neugebauer expedited discovery in his legal challenge against a new 70% supermajority bylaw required for removing directors.
- The court's decision highlights a deepening conflict over board control and shareholder rights, a development that is likely weighing on investor sentiment.