Investors Face September Deadline in Primoris Securities Fraud Lawsuit

The lawsuit alleges that Primoris misled shareholders regarding its internal financial controls and project management. Specifically, plaintiffs claim the company’s cost estimation and forecasting processes were fundamentally flawed, leading to a systematic failure to accurately report the risks and expenditures associated with fixed-price renewable energy projects. These deficiencies allegedly resulted in unexpected cost overruns and significant schedule delays that were not properly disclosed to the market.

Investors who incurred losses during the specified period may be eligible for compensation under a contingency fee arrangement, meaning no out-of-pocket costs are required to participate. While the lawsuit has been filed, no class has been certified yet. Shareholders retain the right to select their own counsel, remain an absent member of the class, or move the court to serve as a lead representative before the September 21 cutoff.