The legal action follows a series of financial disclosures throughout 2026 that triggered sharp declines in Primoris's share price. In February, the company reported margin compression and rising costs in its energy segment, causing an 8.28% dip in stock value. Subsequent disclosures in May regarding lowered earnings guidance and project delays led to a significant 50.11% drop in share price, wiping out roughly half of the company's market value in a single session.

Following the departure of the President of Renewables in June, shares fell another 15.4%. The situation intensified on June 22, 2026, when Primoris revealed that an internal review uncovered substantial cost overruns and delays across six renewable energy projects. This announcement, coupled with the resignation of the Chief Operating Officer and further cuts to fiscal guidance, resulted in a 21.59% decline in the stock price by June 23. Investors seeking to participate in the litigation are encouraged to contact Danielle Peyton at Pomerantz LLP to provide details regarding their share acquisitions.