Primoris Securities Fraud Class Action

Primoris Services, a publicly traded construction and engineering company, has been hit with multiple securities class action lawsuits following a series of disclosures that revealed significant cost overruns, project delays, and guidance cuts in its renewables business. The company's stock plummeted over 50% on May 6, 2026, after it slashed its full-year adjusted EBITDA guidance and reported weak Q1 results. Further declines occurred on June 9 and June 23, 2026, after the departure of its President of Renewables and then its COO, along with another guidance cut. The lawsuits, filed by numerous law firms including Pomerantz LLP, Levi & Korsinsky, Hagens Berman, and others, allege that Primoris and certain executives made false and misleading statements about the company's project management capabilities and financial outlook. The class period is from August 5, 2025 to June 22, 2026, and the lead plaintiff deadline is September 21, 2026. The case is pending in the United States — United States District Court for the Northern District of Texas.