Levi & Korsinsky Reminds Shareholders of a Lead Plaintiff Deadline of September 21, 2026 in Primoris Services Corporation Lawsuit - PRIM

Alert: Claims Focus on Alleged Estimating, Cost-to-Complete Forecasting, and Project Oversight Failures Affecting Primoris Renewable Energy Projects.

NEW YORK, Sept. 16, 2026 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Primoris Services Corporation (NYSE: PRIM) that a class action lawsuit has been filed on behalf of shareholders who purchased securities between August 5, 2025 and June 22, 2026. Find out if you might qualify for recovery or call (212) 363-7500.

June 22, 2026: $23.39 per-share decline, 21.6% drop, $84.95 closing price. 2026 Adjusted EPS guidance revised from $5.80-$6.00 to $2.05-$2.60. Adjusted EBITDA guidance revised from $560 million-$580 million to $275 million-$325 million. Lead plaintiff deadline: September 21, 2026.

Alleged Renewable Energy Project Oversight Failures

The filing states that Primoris performed substantial renewable energy work under fixed-price construction contracts, where profitability depended on accurately estimating total project costs and controlling expenses during execution. The action claims the Company represented that it maintained disciplined bidding, well-developed estimating processes, and effective project controls while material cost overruns were allegedly developing across significant renewable energy projects.

As set forth in the complaint, Primoris used a cost-to-cost input method to recognize revenue over time, making reliable cost-to-complete forecasting central to reported revenue, gross profit, and income. Plaintiffs allege that deficiencies in estimating, forecasting, and project oversight caused expected project costs to be understated and expected profitability to be overstated.

Alleged Six-Project Impact by the Numbers

• Six renewable energy projects were identified by Primoris as affected by substantial challenges, cost overruns, and project delays.
• 2026 Adjusted EPS guidance was reduced from $5.80-$6.00 to $2.05-$2.60.
• 2026 Adjusted EBITDA guidance was lowered from $560 million-$580 million to $275 million-$325 million.
• Primoris projected 2026 Renewables revenue of approximately $2.1 billion.
• The complaint alleges challenging soil conditions, unfavorable weather, delayed project starts, and execution issues increased pressure on margins.

Why Cost-to-Complete Forecasting Allegedly Mattered

The lawsuit contends that each reporting period required Primoris to reassess estimated project costs and recognize material changes through cumulative catch-up adjustments when those changes became known. Plaintiffs allege the Company delayed recognition of cost overruns and margin deterioration, making financial guidance and repeated assurances about project execution allegedly baseless.

"The complaint raises serious questions about whether investors received accurate information about the cost controls behind Primoris' renewable energy project portfolio. When guidance changes this sharply after alleged estimating failures, shareholders deserve a careful review of what was known and when." -- Joseph E. Levi, Esq.

Submit your information now or call (212) 363-7500.

WHY LEVI & KORSINSKY — Ranked in ISS Securities Class Action Services' Top 50 Report for seven consecutive years, Levi & Korsinsky, LLP is a nationally recognized leader in shareholder rights litigation. With a team of over 70 professionals, the firm has recovered hundreds of millions of dollars for investors. Investors who suffered losses have until September 21, 2026 to seek appointment as lead plaintiff.

Frequently Asked Questions About the PRIM Lawsuit

Q: How much did PRIM stock drop? A: Primoris shares fell approximately 21.6%, a decline of $23.39 per share, after the Company announced that an internal review identified substantial challenges, cost overruns, and project delays affecting six renewable energy projects.

Q: What specific misstatements does the PRIM lawsuit allege? A: The complaint alleges Primoris made materially false or misleading statements regarding disciplined bidding, estimating processes, cost-to-complete forecasting, project controls, and financial guidance during the Class Period.

Q: What court was the PRIM class action filed in? A: The case was filed in the United States District Court for the Northern District of Texas, Dallas Division, and is governed by the Private Securities Litigation Reform Act of 1995.

Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.

Q: What documents should PRIM investors gather? A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices may help evaluate potential losses.

Q: What if I already sold my PRIM shares, can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought during the Class Period and sold at a loss may still be eligible to participate.

Q: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. If there is a settlement or recovery, eligible class members generally submit a claim form to seek their portion.

Q: What does it cost me to participate? A: There is no upfront cost. Securities class actions are generally handled on a contingency basis, and any attorneys' fees and expenses awarded to class counsel are subject to court approval.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171

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SOURCE Levi & Korsinsky, LLP