Primoris Investors Face September Deadline in Securities Class Action

The litigation, spearheaded by Hagens Berman Sobol Shapiro LLP, targets the firm and its executives over claims that project management capabilities were systematically misrepresented. While management touted disciplined bidding and reliable forecasting, the complaint alleges that internal processes were deficient, leading to significant cost overruns on major renewable energy contracts.

Confidence in the company collapsed following two major selloffs. On May 6, 2026, shares plummeted 50% after the company disclosed a 40% drop in gross profits within its core Energy segment. A second shock followed on June 23, 2026, when shares fell an additional 21% after management revealed that revenue for the renewables business would decline by $900 million. In total, these disclosures erased over $6 billion in market capitalization. Reed Kathrein, a partner at Hagens Berman, is now investigating when executives became aware of the full scope of these operational failures.