The litigation, spearheaded by Robbins LLP, claims that Primoris maintained deficient oversight and cost-forecasting processes. According to the complaint, the firm systematically underestimated expenses for fixed-price renewable projects while failing to disclose material overruns and schedule delays. These omissions allegedly kept stock prices artificially inflated throughout the class period.

The market reality surfaced through a series of disclosures culminating on June 22, 2026. Primoris revealed that an independent review identified significant execution challenges across six renewable energy projects, necessitating a substantial reduction in the company's 2026 financial guidance. The internal turmoil also led to the resignation of Chief Operating Officer Jeremy Kinch. Following these revelations, the company's stock price dropped from $108.34 to $84.95 per share, marking a decline of approximately 21.6%. Robbins LLP is representing investors on a contingency fee basis as the court process moves forward.