Primoris Services Faces Class Action Suit Over Renewable Project Losses

The complaint alleges that Primoris systematically underestimated costs and failed to disclose significant overruns and delays tied to fixed-price energy contracts. According to the court filing, the company’s public statements regarding its project execution and financial guidance lacked a reasonable basis, resulting in artificially inflated share prices during the specified period.

The market began to reconcile with these risks following a series of disclosures culminating on June 22, 2026. After an internal review confirmed execution failures across six projects and a substantial reduction in 2026 financial guidance, Primoris saw the resignation of Chief Operating Officer David Kinch. The stock price dropped from $108.34 to $84.95 per share, representing a decline of approximately 21.6%.

Shareholders who suffered losses have until September 21, 2026, to apply for lead plaintiff status. While this role allows an investor to represent the class throughout the litigation, those who choose not to participate may still remain members of the class and potentially share in any eventual recovery. Robbins LLP, which operates on a contingency fee basis, is currently managing inquiries from affected investors.