Fermi (FRMI) said Monday it sent a letter to shareholders urging them to revoke consent and return a white revocation card in response to former Chief Executive Toby Neugebauer's solicitation to call a special meeting, while disputing statements he made on June 16.

The company also urged shareholders not to sign or return any green agent designation cards sent by Neugebauer and affiliated parties.

In the letter, Fermi said Neugebauer was attempting to claim credit for the company's recent momentum and argued that his actions could disrupt the company's progress. The company previously said Neugebauer was terminated for cause.

Fermi previously filed a preliminary consent revocation statement opposing Neugebauer's effort to call a special shareholder meeting and gain control of the board. The company has also said Neugebauer's proposed May 29 special meeting was invalid and canceled under its bylaws.

Shares of Fermi were down 3.5% in Monday afternoon trading.

Price: 9.17, Change: -0.34, Percent Change: -3.53