Kaplan Fox & Kilsheimer LLP has issued a reminder to Primoris Services Corporation (NYSE: PRIM) investors regarding the September 21, 2026 deadline to seek appointment as lead plaintiff in an ongoing securities class action. The firm urges investors who purchased stock between August 5, 2025, and June 22, 2026, to consider joining the lawsuit or seeking lead plaintiff status.

The notice emphasizes that investors do not need to seek lead plaintiff status to share in any potential recovery. Investors may contact Kaplan Fox by emailing pmayer@kaplanfox.com or calling (646) 315-9003 for information on the class action.

Updated Legal Notices and Firm Credentials

Kahn Swick & Foti, LLC is described as one of the nation's premier boutique securities litigation law firms. Its partners include former Louisiana Attorney General Charles C. Foti, Jr. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. The firm serves public and private institutional investors and retail investors seeking recoveries for investment losses emanating from corporate fraud or malfeasance. KSF has offices in New York, Delaware, California, Louisiana, Chicago, and a representative office in Luxembourg.

Investors may contact KSF Managing Partner Lewis Kahn toll-free at 1-833-538-3615 or via email ( lewis.kahn@ksfcounsel.com ) to learn more. Additionally, investors can visit https://claimsfiler.com/cases/nyse-prim/ or call toll-free (833) 538-3601 for assistance.

Robbins Geller Rudman & Dowd LLP highlighted its ranking as #1 on the most recent ISS Securities Class Action Services Top 50 Report. The firm reported recovering more than $916 million for investors in 2025 and $8.4 billion over the past five years. Investors can contact attorneys Ken Dolitsky or Michael Albert at Robbins Geller to discuss the case.

Rosen Law Firm emphasizes its litigation experience, noting that some firms issuing notices may act merely as middlemen. The firm states it has recovered billions for investors in securities class actions. It highlights being ranked No. 1 by ISS Securities Class Action Services for settlements in 2017 and recovering over $438 million in 2019. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Investors may contact Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action.

Levi & Korsinsky Litigation Credentials

Over the past 20 years, Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders. The firm has extensive expertise in complex securities litigation and a team of over 70 employees. For seven consecutive years, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report. Investors who suffered losses have until September 21, 2026 to seek appointment as lead plaintiff.

Joseph E. Levi, Esq., stated that analyst expectations built on incomplete or allegedly misleading company disclosures can cause significant investor harm. He pointed to Guggenheim's June 9 commentary as part of the market's reassessment of Primoris' renewable energy execution risks.

Investors may contact Levi & Korsinsky by emailing jlevi@levikorsinsky.com or calling (212) 363-7500.

Kaplan Fox Litigation Credentials

Kaplan Fox & Kilsheimer LLP is a nationally recognized law firm focused on complex litigation, with offices in New York, Oakland, Los Angeles, Chicago, and New Jersey. Founded in 1956, the firm has spent more than 50 years prosecuting securities, antitrust, and consumer protection actions in federal and state courts nationwide, recovering more than $10 billion for clients and the classes it has represented.

The firm is widely regarded as one of the nation's premier plaintiffs' securities litigation firms and has received recognition from Chambers and Partners, Benchmark Litigation, Super Lawyers, and Lawdragon. Serving as lead or co-lead counsel in many landmark cases, Kaplan Fox has secured some of the largest recoveries in the history of securities litigation:

• A $2.425 billion recovery on behalf of Bank of America shareholders in In re Bank of America, the largest recovery ever obtained for claims under Section 14(a) of the Securities Exchange Act.
• $800 million recovered for the Arkansas Teacher Retirement System and other pension funds in ATRS v. Allianz Global Investors.
• A $475 million settlement in In re Merrill Lynch.

For decades, Kaplan Fox has represented public pension funds, institutional investors, businesses, and individuals in high-stakes litigation. Through its successful advocacy and precedent-setting victories, Kaplan Fox has helped shape important areas of securities and corporate law while advancing accountability and protecting investor interests.

Investors may contact Kaplan Fox by emailing pmayer@kaplanfox.com or calling (646) 315-9003. Contacting the firm does not create an attorney-client relationship.

Pomerantz LLP Litigation Credentials

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members.

Investors may contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

Robbins LLP Litigation Credentials

Robbins LLP reminds investors that a securities class action has been filed on behalf of all persons and entities that purchased or otherwise acquired Primoris Services Corporation securities between August 5, 2025 and June 22, 2026 (the "Class Period"). The lawsuit alleges that Primoris made materially false or misleading statements regarding the Company's cost forecasting, project oversight, and expected profitability of certain renewable energy construction projects.

A recognized leader in shareholder rights litigation, Robbins LLP has helped restore more than $1 billion in value to shareholders and secured some of the largest recoveries in shareholder derivative litigation history. "Behind everything we do is the belief that companies should be governed responsibly, fiduciaries should be held accountable, and shareholders deserve transparency and fairness," said Brian J. Robbins, Founding Partner of Robbins LLP.

Investors seeking additional information about the Primoris securities class action may submit an inquiry through Robbins LLP's website, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.

Expanded Defendant List and Control Person Claims

The lawsuit, captioned Boston Retirement System v. Primoris Services Corporation, No. 3:26-cv-02416 (N.D. Tex.), alleges violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5. Plaintiffs contend that Primoris misled investors regarding its cost-to-complete forecasting and project oversight for fixed-price renewable energy projects.

The complaint names Primoris and four senior executives as defendants: Koti Vadlamudi, David King, Ken Dodgen, and Jeremy Kinch. The action asserts Section 20(a) control person claims against these individuals, alleging they had authority over SEC filings, earnings releases, conference calls, and investor communications during the Class Period.

• Koti Vadlamudi served as President and Chief Executive Officer from November 10, 2025, through the end of the Class Period.
• David King served as Chairman and Interim President and Chief Executive Officer from March 20, 2025, to November 10, 2025.
• Ken Dodgen served as Executive Vice President and Chief Financial Officer throughout the Class Period.
• Jeremy Kinch served as Chief Operating Officer until his departure on June 22, 2026.

Plaintiffs allege these officers failed to prevent or correct statements concerning disciplined bidding, cost estimating, and financial outlooks despite having access to information about material cost overruns.

Financial Context and Stock Declines

The legal claims are grounded in sharp declines in profitability within the Energy segment. In Q2 2026, Primoris reported a net loss of $24.2 million, driven by a $200 million negative cash flow impact from six specific renewable energy projects. This caused the Energy segment’s gross margin to plummet to -0.3%. Revenue fell to $1.69 billion, a 10.6% year-over-year decline, while Adjusted EBITDA dropped to $11.4 million.

Material adverse events triggered steep stock price reductions. On February 24, 2026, following Q4FY25 results, stock fell 8.3% to $151.92. On May 6, 2026, after slashing full-year adjusted EBITDA guidance to $480-$500 million, the stock plummeted 50.11% to $101.23.

Further instability emerged on June 9, 2026, when Anthony Vorderbruggen, President of Renewables, departed, causing a 15.4% drop to $103.90. Finally, on June 22, 2026, COO Jeremy Kinch’s departure and further outlook cuts drove the stock down 21.6% to $84.95. The company reduced full-year 2026 Adjusted EPS guidance to $2.05-$2.60 and Adjusted EBITDA to $275-$325 million. Additionally, the company projected that 2026 Renewables revenue would decline to approximately $2.1 billion.

Timeline of Alleged Disclosure Failures

The securities action alleges that Primoris reassured investors about disciplined bidding while fixed-price renewable energy projects experienced cost overruns. Key dates include:

• August 5, 2025: Primoris discussed Q2 results, allegedly emphasizing disciplined bidding.
• February 23, 2026: Disclosure of increased costs on renewable projects; stock fell to $151.92.
• May 5, 2026: Report of revenue pressure and reduced full-year 2026 EPS outlook; stock fell to $101.23.
• June 8, 2026: Departure of President of Renewables; Guggenheim Securities questioned project scoping.
• June 22, 2026: Internal review identified substantial cost overruns on six projects.

What the Numbers Show

The divergence between historical double-digit margins and the current -0.3% gross margin in the Energy segment suggests systemic failures in cost forecasting. The $200 million negative cash flow impact from just six projects indicates high concentration of risk within the renewables portfolio. Rapid guidance reductions—from $560-$580 million Adjusted EBITDA in February 2026 to $275-$325 million by June—highlight a failure to accurately scope ongoing challenges.

Primoris Services Corporation (NYSE: PRIM) appointed James A. Greer and Oscar K. Brown to its Board of Directors, effective October 1, 2026. The additions increase the board size to ten members.

David L. King, Chairman of the Board, stated that the appointments would strengthen oversight capabilities and broaden strategic perspective. He highlighted Greer’s operational expertise in electric transmission and distribution, alongside Brown’s background in energy infrastructure and corporate strategy.

New Board Members

James A. Greer brings over 40 years of experience in energy delivery markets. He served as Executive Vice President and Chief Operating Officer of Oncor Electric Delivery Company LLC from October 2011 until his retirement in 2025. Prior to that role, he was Senior Vice President of Asset Management and Engineering at Oncor from October 2007 to October 2011.

Oscar K. Brown has more than 25 years of experience in the energy industry. He has served as President and Chief Executive Officer of Western Midstream Partners, LP (NYSE: WES) since October 2024. Brown also serves on Western Midstream’s Board of Directors, having joined in August 2019.

Strategic Rationale

King noted that Greer’s decades of experience overseeing critical electric transmission operations will provide valuable technical expertise. Brown’s leadership experience spans business development, finance, and governance. The company stated these backgrounds support sustainable growth and long-term shareholder value creation.