Primoris Services Faces Class Action Over Renewable Project Forecasts

The litigation, spearheaded by the law firm Robbins LLP, contends that Primoris maintained deficient project oversight and cost-estimation processes. According to the complaint, these failures led the company to systematically underestimate risks and costs associated with its renewable energy contracts, while simultaneously providing investors with financial guidance that lacked a reasonable basis.

The alleged deception began to unravel between February and June 2026, when an internal review identified significant execution challenges and cost overruns across six major projects. This disclosure prompted a sharp downward revision of the company’s 2026 financial outlook and the resignation of Chief Operating Officer Kinch. Following the announcement, Primoris shares plummeted 21.6%, dropping from $108.34 to $84.95 per share. Shareholders wishing to serve as lead plaintiff in the case have until September 21, 2026, to file a motion.