Kessler Topaz Meltzer & Check, LLP has filed a securities fraud class action lawsuit against Primoris Services Corporation on behalf of investors who purchased Primoris common stock between August 5, 2025 and June 22, 2026. The lawsuit, filed in the United States District Court for the Northern District of Texas, alleges that Primoris made materially false and misleading statements regarding the costs and risks of significant fixed-price renewable energy projects. The complaint claims the company's cost estimation and project oversight processes were deficient, leading to systematic underestimation of costs and risks, and that positive statements about the business were misleading. Primoris' stock price fell sharply on multiple disclosures, including an 8.3% drop on February 24, 2026 after revealing increased renewable project costs, a 50.11% plunge on May 6, 2026 after slashing full-year adjusted EBITDA guidance from $560-$580 million to $480-$500 million, and a further 21.6% decline on June 22, 2026 after announcing cost overruns and delays on six projects and lowering revenue expectations for its renewables business to $2.1 billion to $3 billion. Investors have until September 21, 2026 to seek lead plaintiff status.
Primoris Services CorporationSecurities fraud class action lawsuit filed against the company for alleged false statements about renewable project costs and risks
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