A securities class action lawsuit has been filed against Primoris Services Corporation and certain current and former executives, alleging they misled investors about the company's project management capabilities. The suit, covering investors who purchased shares between August 5, 2025 and June 22, 2026, follows a second massive selloff on June 23, 2026, when shares fell $23.29 or 21%, after an earlier crash of $101.69 or 50% on May 6, 2026. The disclosures erased well over $6 billion from Primoris' market capitalization between May 5, 2026 and June 23, 2026. The complaint claims that despite assurances of disciplined bidding and effective project controls, Primoris had deficient estimating and oversight processes that caused systematic underestimation of costs on multiple renewable energy projects. The lead plaintiff deadline is September 21, 2026.
Primoris Services CorporationSecurities class action lawsuit alleging misleading investors about project management capabilities, causing massive selloffs.