Primoris Services Faces Class Action Lawsuit Over Renewable Energy Project Issues
News related to:Primoris Services Corporation · 2 min read
Kahn Swick & Foti, LLC, a leading securities litigation law firm, has notified investors in Primoris Services Corporation (NYSE: PRIM) of a class action lawsuit. The lawsuit, brought by the Boston Retirement System, seeks to recover losses on behalf of investors who purchased the company's shares between August 5, 2025, and June 22, 2026.
According to the complaint, Primoris and certain of its executives are accused of failing to disclose material information during the class period, which violated federal securities laws. The lawsuit centers around the company's financial performance and the disclosure of significant challenges and cost overruns affecting six renewable energy projects.
On June 22, 2026, Primoris disclosed that an internal review, supported by an independent third-party industry expert, had identified substantial issues. The company reported that these challenges, including cost overruns and project delays, would affect its financial guidance for the year 2026. As a result, Primoris reduced its full-year 2026 Adjusted EPS guidance to $2.05-$2.60 and lowered its Adjusted EBITDA guidance to $275 million-$325 million. Additionally, the company projected that its 2026 Renewables revenue would decline to approximately $2.1 billion. Following this news, the price of Primoris shares fell 22%, closing at $84.95 per share on June 23, 2026.
The lawsuit is pending in the United States District Court for the Northern District of Texas. Investors who purchased Primoris shares during the class period are encouraged to contact Lewis Kahn, Managing Partner of Kahn Swick & Foti, LLC, to learn more about their legal options. Investors have until September 21, 2026, to request that the Court appoint them as lead plaintiff in the case. However, their ability to share in any recovery does not require them to serve as a lead plaintiff.
Kahn Swick & Foti, LLC, known for its expertise in securities litigation, is one of the nation's premier boutique law firms. The firm's partners, including former Louisiana Attorney General Charles C. Foti, Jr., have a track record of success in recovering losses for investors due to corporate fraud or malfeasance.