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Pomerantz Law Firm Investigates Primis Financial Corp. for Alleged Securities Fraud

Pomerantz LLP, a trusted name in corporate and securities litigation, has initiated an investigation into the actions of Primis Financial Corp. (NASDAQ: FRST). This inquiry comes in response to growing concerns from investors regarding potential securities fraud and other illegal business practices by the company and its leadership.

The primary focus of the investigation stems from a press release issued by Primis on January 28, 2025, detailing its financial performance for the fourth quarter of the previous year. The report revealed a staggering net loss of $14.7 million, equating to a $0.59 loss per share. This figure marked a significant increase in losses compared to the same period in 2023, when the company reported a net loss of $8.2 million, or $0.33 per share. The decline was attributed to the company's decision to transfer a third-party originated consumer loan portfolio to held for sale during the quarter, a move that evidently impacted its financial standing adversely.

The revelation of these losses triggered a noticeable drop in Primis's stock price, which fell by $0.93, or about 8.14%, in the wake of the announcement, closing at $10.50 per share on January 29, 2025. For many investors, this negative news could indicate deeper issues within the company that necessitate scrutiny.

Pomerantz LLP urges all investors affected by this news to reach out to their dedicated attorney, Danielle Peyton, at [email protected] or 646-581-9980, extension 7980, for assistance and to explore their rights. This call to action highlights the firm’s commitment to protecting the rights of those affected by potential corporate misconduct.

Established over 80 years ago by the late Abraham L. Pomerantz, recognized as a pioneer in the class action sector, the firm has a rich history of advocating for victims of securities fraud and breaches of fiduciary duty. Their success in recovering substantial damages for class members acknowledges their leadership in the legal realm, promoting investor rights and holding corporations accountable.

As investigations continue, it is imperative for stakeholders in Primis Financial Corp. to remain vigilant and informed about any further developments. A thorough investigation will determine whether the company's actions constitute securities fraud or if they are merely a reflection of broader market trends impacting financial performance.

For updates on this situation, investors should monitor news releases and potentially reach out to legal representatives if they suspect they have been adversely affected by the company's recent actions. The Pomerantz Law Firm emphasizes that prior results in similar cases do not guarantee the same outcomes, highlighting the unique nature of each legal situation.

This investigation serves as a reminder of the importance of due diligence in investing and the necessity of having robust legal representation when concerns arise. The future for Primis Financial Corp. remains uncertain as these investigations proceed, but affected investors should not hesitate to seek proper channels for addressing their grievances.