Los Angeles – September 12, 2026 -- The Law Offices of Frank R. Cruz has opened a securities fraud class action against Primoris Services Corporation (NYSE: PRIM), giving investors until September 21, 2026 to seek lead plaintiff status.
Complaint targets Primoris' cost forecasting on fixed-price renewable energy contracts.
The lawsuit covers the period from August 5, 2025 to June 22, 2026, alleging that Primoris made materially false or misleading statements about its business and operations during that window.
Filing alleges systematic underestimation of project costs and risks.
According to the complaint, Primoris' cost estimation, cost-to-complete forecasting, and project oversight processes were deficient, failing to produce reliable estimates of costs and expected profitability on significant fixed-price renewable energy projects. The filing claims this led the company to systematically underestimate costs and risks on projects that were experiencing material cost overruns, execution problems, and schedule delays.
Positive company statements are alleged to have lacked a reasonable basis.
As a result of these undisclosed issues, the complaint states that Primoris' positive public statements about its business, operations, and prospects were materially misleading or lacked a reasonable basis throughout the class period.
Investors face a firm deadline to claim lead plaintiff status.
Shareholders who purchased Primoris stock during the specified period may participate in the action without taking immediate action, retaining their own counsel, or remaining as absent class members. The lead plaintiff deadline is set for September 21, 2026.