Primoris Services Faces Class Action Over Renewable Project Losses

The litigation, brought by law firm Levi & Korsinsky, targets the period between August 5, 2025, and June 22, 2026. Investors claim that while Primoris executives publicly touted "disciplined bidding" and robust risk management, the company was simultaneously grappling with significant cost overruns, delays, and execution failures across six major renewable energy projects. These deficiencies remained undisclosed, artificially inflating the company's financial outlook.

According to the complaint, the core of the issue lies in Primoris’ use of a cost-to-cost revenue recognition method. Because the firm relied on these estimates to forecast project profitability, the alleged failure to account for challenges such as adverse soil conditions and weather led to overstated earnings reports. When an internal review finally surfaced these operational cracks, the resulting market correction wiped out $23.39 per share for investors. Those who held stock during the class period must file applications to serve as lead plaintiff by September 21, 2026.