Investigation Launched Against Primis Financial Corp. over Alleged Securities Law Violations
New York, NY – In a recent development, Levi & Korsinsky, a leading securities law firm, announced the initiation of an investigation into Primis Financial Corp. (NASDAQ: FRST) over potential securities law violations. The investigation comes in the wake of Primis Financial’s press release on January 28, 2025, disclosing certain financial results for the fourth quarter of 2024.
Background
Primis Financial Corp. is a financial services company headquartered in Atlanta, Georgia. The company operates through its subsidiary, Primis Bank, which provides various financial products and services, including mortgage origination, servicing, and home equity loans. Primis Financial’s stock is publicly traded on the NASDAQ stock exchange under the symbol FRST.
Investigation Details
Levi & Korsinsky’s investigation focuses on whether Primis Financial and certain of its officers or directors have violated federal securities laws by making false and/or misleading statements and/or failing to disclose material information to investors. The alleged misstatements and omissions relate to Primis Financial’s financial condition and business prospects.
Impact on Primis Financial
The announcement of the investigation could negatively impact Primis Financial’s reputation and investor confidence. It may also lead to increased regulatory scrutiny and potential legal action against the company and its executives. The investigation could result in substantial costs, including legal fees and potential damages, which could weigh on Primis Financial’s financial performance.
Impact on Individual Investors
Individual investors who purchased Primis Financial stock between certain dates, as yet undetermined, may be able to recover their losses through the investigation. If it is determined that Primis Financial and its executives violated securities laws, they could be liable for damages under the Securities Act of 1933 and the Securities Exchange Act of 1934. Investors interested in pursuing potential claims should contact Levi & Korsinsky to discuss their options.
Global Implications
The investigation into Primis Financial is a reminder of the importance of transparency and accuracy in financial reporting. Misrepresentations and omissions can have significant consequences, affecting not only the companies involved but also investors and the broader financial markets. This case underscores the need for robust regulatory frameworks and effective enforcement mechanisms to protect investors and maintain market integrity.
Conclusion
The initiation of an investigation into Primis Financial Corp. by Levi & Korsinsky raises concerns about potential securities law violations. The investigation’s outcome could have significant implications for Primis Financial, its executives, and individual investors. It also highlights the importance of transparency and accuracy in financial reporting and the role of regulatory bodies in ensuring market integrity. As the investigation unfolds, we will continue to monitor developments closely and provide updates as necessary.
- Primis Financial Corp. is under investigation for potential securities law violations.
- Levi & Korsinsky announced the initiation of the investigation on February 5, 2025.
- The investigation follows Primis Financial’s press release on January 28, 2025, reporting fourth-quarter financial results.
- The investigation could negatively impact Primis Financial’s reputation and investor confidence.
- Individual investors who purchased Primis Financial stock may be able to recover their losses.
- Transparency and accuracy in financial reporting are crucial for maintaining market integrity.
