#United States #New York #Securities Fraud #Pomerantz #Primis Financial

Pomerantz Law Firm Investigates Allegations Against Primis Financial Corp.

Pomerantz LLP, a well-known law firm specializing in corporate and securities class actions, is currently launching an investigation into claims on behalf of investors of Primis Financial Corp. This inquiry arises amidst concerns related to potential securities fraud and questionable business practices tied to the company and its executives.

On January 28, 2025, Primis disclosed its financial results for the fourth quarter of 2024, revealing that it experienced a significant net loss. The reported loss amounted to $14.7 million, or $0.59 loss per share, compared to a loss of $8.2 million or $0.33 per share for the same quarter in the previous year. Such a drastic change has raised eyebrows and prompted further scrutiny into the company's financial strategies and decision-making processes, particularly regarding their third-party originated consumer loan portfolio that was moved to 'held for sale'.

The adverse financial news led to a dramatic drop in Primis's stock price, plunging by 8.14% on January 29, 2025, demonstrating market reaction to the bleak earnings report. Investors who are concerned about their investments may want to reach out to the Pomerantz Law Firm for potential participation in a class action lawsuit aimed at addressing grievances related to these developments.

Founded by the legendary Abraham L. Pomerantz, the Pomerantz Firm brings over 80 years of experience in advocating for victimized investors. The firm has developed a strong reputation for its competence in addressing securities fraud and safeguarding the rights of shareholders against corporate misconduct. As they embark on this investigation, they aim to hold accountable those responsible for any violations that have adversely affected investors.

Pomerantz emphasizes that prior results do not guarantee similar outcomes, yet their record of recovering substantial damages for class members remains notable.

As this situation evolves, affected investors are encouraged to contact Danielle Peyton of Pomerantz LLP at [email protected] or via phone at 646-581-9980, ext. 7980, to explore their legal options. This inquiry reflects the law firm’s ongoing commitment to fighting for justice and fairness in the financial sector, where transparency and accountability are paramount for investor confidence.

The outcome of this investigation and any subsequent legal actions will likely be closely watched, as they can have far-reaching implications not only for Primis Financial Corp. but for similar companies within the industry facing allegations of securities fraud and mismanagement. Investors should remain vigilant and informed as developments arise from this ongoing investigation.