The litigation, spearheaded by Robbins LLP, claims that Primoris maintained deficient oversight and cost-forecasting processes. According to the complaint, the firm systematically underestimated expenses for fixed-price renewable projects while failing to disclose material overruns and schedule delays. These omissions allegedly kept stock prices artificially inflated throughout the class period.
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Investors File Class Action Lawsuit Against Primoris Services
A securities class action lawsuit now targets Primoris Services Corporation following allegations that the company misled investors regarding its ability to manage costs and risks on major renewable energy projects. Shareholders who purchased stock between August 5, 2025, and June 22, 2026, face a September 21, 2026, deadline to seek lead plaintiff status.
The market reality surfaced through a series of disclosures culminating on June 22, 2026. Primoris revealed that an independent review identified significant execution challenges across six renewable energy projects, necessitating a substantial reduction in the company's 2026 financial guidance. The internal turmoil also led to the resignation of Chief Operating Officer Jeremy Kinch. Following these revelations, the company's stock price dropped from $108.34 to $84.95 per share, marking a decline of approximately 21.6%. Robbins LLP is representing investors on a contingency fee basis as the court process moves forward.
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