INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Primis Financial Corp. - FRST

NEW YORK, Feb. 4, 2025 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Primis Financial Corp. ("Primis" or the "Company") (NASDAQ: FRST). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.

The investigation concerns whether Primis and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

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On January 28, 2025, Primis issued a press release reporting certain financial results for the fourth quarter of 2024. Among other items, Primis "reported a net loss available to common shareholders of $14.7 million or $0.59 loss per basic and diluted share for the quarter ended December 31, 2024, compared to a net loss available to common shareholders of $8.2 million or $0.33 loss per basic and diluted share for the quarter ended December 31, 2023." Primis said that its "[e]arnings . . . [were] highly affected by the Company's decision to move a third-party originated consumer loan portfolio to held for sale in the fourth quarter of 2024". 

On this news, Primis's stock price fell $0.93 per share, or 8.14%, to close at $10.50 per share on January 29, 2025.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, London, and Paris 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, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm 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. See www.pomerantzlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980

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SOURCE Pomerantz LLP