SHERIDAN, WYOMING -- August 14, 2026 -- Investors in Primoris Services Corporation are being notified of a securities class action lawsuit filed against the company and certain of its executives. The law firm Kahn Swick & Foti, LLC, along with partner and former Louisiana Attorney General Charles C. Foti, Jr., is representing shareholders who purchased Primoris stock between August 5, 2025 and June 22, 2026. The case, filed in the U.S. District Court for the Northern District of Texas, centers on allegations that the company withheld material information from the market during that period. Shareholders who suffered losses during this window have until September 21, 2026 to petition the court for lead plaintiff status.
Lawsuit Targets Disclosure Practices Around Renewables Segment
The complaint, filed under the case name Boston Retirement System v. Primoris Services Corp., No. 26-cv-02416, alleges that Primoris and its leadership failed to adequately disclose issues tied to the company's renewable energy operations throughout the class period. According to the filing, this omission ran counter to federal securities law obligations requiring timely and accurate disclosure to shareholders.
June Disclosure Triggered Sharp Stock Decline
The events leading to the lawsuit trace back to June 22, 2026, when Primoris disclosed the results of an internal review conducted with support from an independent third-party industry expert. That review identified substantial cost overruns, project delays, and operational challenges affecting six of the company's renewable energy projects.
Following this disclosure, Primoris cut its full-year 2026 adjusted EPS guidance to a range of $2.05 to $2.60 and lowered its adjusted EBITDA guidance to between $275 million and $325 million. The company also projected that 2026 renewables revenue would decline to approximately $2.1 billion. Alongside these revisions, Primoris announced the resignation of its Chief Operating Officer.
Investors reacted swiftly to the news. Primoris shares dropped 22% the following trading day, closing at $84.95 per share on June 23, 2026 — a move the lawsuit characterizes as a direct market response to previously undisclosed operational and financial risk within the renewables business.
What the Litigation Means for Shareholders and Industry Observers
For institutional and retail investors who held Primoris shares during the specified window, the litigation offers a potential avenue to recover losses tied to the stock's decline. Participation as lead plaintiff is not required to share in any eventual recovery, according to the firm handling the case.
Beyond the immediate financial stakes for shareholders, the case draws attention to disclosure practices within engineering and infrastructure firms operating large renewable energy project portfolios. Cost overruns and delays are not unusual in complex energy construction work, but the timing and completeness of related disclosures can carry significant legal exposure when they affect guidance and executive stability.
Companies with substantial renewables backlogs may face increased scrutiny from investors and counsel alike regarding how internal reviews are communicated to the market, particularly when third-party assessments reveal problems serious enough to prompt guidance revisions and leadership changes.
Case Background and Next Steps
The lawsuit remains in its early stages, with the lead plaintiff deadline set for September 21, 2026. Shareholders who believe they were affected by the alleged nondisclosures during the class period are being encouraged to review their eligibility before that date.
Kahn Swick & Foti has positioned itself among the more active securities litigation firms nationally, with recognition from Institutional Shareholder Services for its work on behalf of both institutional and individual investors pursuing recovery from corporate securities matters.
Investors seeking additional information on eligibility and next steps can visit https://www.ksfcounsel.com/cases/nyse-prim/.