Pomerantz Law Firm Investigates Potential Securities Fraud at Primis Financial Corp.

Pomerantz Law Firm Launches Investigation into Primis Financial Corp.

On February 18, 2025, Pomerantz LLP, a prestigious law firm with a solid reputation in corporate securities litigation, announced an investigation on behalf of investors of Primis Financial Corp (NASDAQ: FRST). Investors concerned about potential misconduct are encouraged to reach out to the firm for inquiries. This investigation aims to determine whether Primis or its executives have been involved in securities fraud or any other illegal business practices.

The investigation comes after a significant report released by Primis on January 28, 2025, indicating dire financial results from the fourth quarter of 2024. The press release highlighted a net loss available to common shareholders totaling $14.7 million, which translates to $0.59 per share. This loss marks a substantial increase compared to the same quarter in the previous year, where the net loss was only $8.2 million or $0.33 per share. Primis attributed this unfortunate turn of events to its decision to move a third-party originated consumer loan portfolio onto the market as held for sale in the fourth quarter of 2024.

This news triggered a drop in the company's stock price, plummeting by 8.14% to close at $10.50 per share on January 29, 2025. Such a drastic decline has undoubtedly raised alarms among shareholders and prompted legal inquiries. Pomerantz LLP urges any investors impacted by these developments to come forward and engage in legal proceedings that may follow.

Established by the late Abraham L. Pomerantz, the firm is recognized as a cornerstone of class action litigation in the securities field, pioneering numerous successful claims over the past 80 years. The firm is committed to fighting for the rights of shareholders and victims of corporate misconduct, with a history of recovering substantial damages on behalf of class members.

Investor Guidance

Affected investors are advised to connect with Danielle Peyton from Pomerantz via email at [email protected] or by phone at 646-581-9980 ext. 7980. Legal representatives from the firm stand ready to assist those who need clarity about potential remedies in light of the recent developments with Primis Financial Corp.

As investors seek to safeguard their interests, this investigation may unfold into a class action lawsuit if sufficient evidence of wrongdoing is established. The legal community is closely monitoring these events, as they highlight the critical need for transparency and accountability in the financial market.

Conclusion

The investigation into Primis Financial serves as a reminder of the ever-present scrutiny on companies and their compliance with securities regulations. As we await further updates, it is crucial for investors to remain informed and proactive in protecting their investments amidst this potentially damaging situation. For more information and updates regarding the investigation, interested parties can follow developments presented by Pomerantz LLP on their official website.