NEW YORK, Aug. 04, 2026 (GLOBE NEWSWIRE) -- SueWallSt notifies institutional investors in Primoris Services Corporation (NYSE: PRIM) that a securities class action has been filed on behalf of shareholders who purchased PRIM securities between August 5, 2025 and June 22, 2026. Request an institutional investor loss assessment. You may also contact Joseph E. Levi, Esq. at jlevi@SueWallSt.com or (888) SueWallSt.
PRIM declined $23.39 per share, or 21.6%, from $108.34 to $84.95 after the June 22, 2026 business update. Those wishing to serve as lead plaintiff must act by September 21, 2026.
Institutional Investor Securities Recovery ERISA Considerations
For pension funds, endowments, unions, asset managers, and other fiduciaries, the complaint presents a portfolio-loss issue tied to alleged failures in fixed-price renewable energy project controls. The action asserts that Primoris represented that it maintained disciplined bidding, well-developed estimating processes, and effective project oversight while allegedly underestimating costs and risks on significant renewable energy projects.
The complaint further alleges that the Company delayed recognition of material cost overruns and margin deterioration. For fiduciaries that purchased PRIM during the Class Period, the practical issue is whether documented losses warrant review for potential lead plaintiff participation or monitoring as an absent class member.
Fiduciary Review Points for PRIM Holdings
- Identify PRIM purchases and sales between August 5, 2025 and June 22, 2026.
- Compare purchase prices against the alleged corrective disclosure dates in February, May, and June 2026.
- Review whether fund-level losses were concentrated around the June 22, 2026 guidance reset.
- Assess whether PRIM exposure appeared in separately managed accounts, index strategies, or actively managed portfolios.
- Preserve trade confirmations, monthly statements, custody reports, and investment committee materials.
Alleged Portfolio Impact From Guidance Reductions
As detailed in the action, Primoris issued February 2026 guidance for adjusted EPS of $5.80 to $6.00 and adjusted EBITDA of $560 million to $580 million. The June 2026 business update reduced those figures to adjusted EPS of $2.05 to $2.60 and adjusted EBITDA of $275 million to $325 million.
"Institutional investors play a critical role in securities class actions, particularly where alleged disclosure failures may have affected retirement assets and long-term portfolios. Here, the alleged guidance reductions and project-cost issues warrant careful review by fiduciaries with PRIM trading losses." -- Joseph E. Levi, Esq.
Contact us to learn more about institutional recovery options or call (212) 363-7500.
WHY SUEWALLST: SueWallSt is powered by Levi & Korsinsky LLP. Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
Frequently Asked Questions About the PRIM Lawsuit
Q: What is the PRIM class action lawsuit about? A: A securities class action has been filed against Primoris Services Corporation (NYSE: PRIM) alleging materially false and misleading statements between August 5, 2025 and June 22, 2026. Shares fell approximately 21.6% after the Company disclosed substantial challenges, cost overruns, project delays on six renewable energy projects, reduced 2026 guidance, and the resignation of its Chief Operating Officer. Investors who purchased shares during the Class Period and suffered losses may be eligible to seek compensation.
Q: Who is eligible to join the PRIM investor lawsuit? A: Investors who purchased PRIM stock or securities between August 5, 2025 and June 22, 2026 and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses, not on whether you still hold the shares.
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, 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 happens after I contact Levi & Korsinsky? A: An attorney will review your trading history at no cost and provide an initial assessment of your potential eligibility.
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 to contact the firm. Securities class actions are generally handled on a pure contingency basis. No upfront fees, no retainer, and no out-of-pocket costs. Any attorneys' fees and expenses awarded to class counsel are subject to court approval.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
Tel: (888) SueWallSt
Fax: (212) 363-7171
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