Faruqi & Faruqi Reminds Investors in Flotek Industries of Lead Plaintiff Deadline
News provided byFlotek Industries Inc · 2 min read
New York, New York, (Newsfile Corp. - September 5, 2026), Faruqi & Faruqi, LLP, a leading national securities law firm, is reminding investors who purchased Flotek Industries, Inc. (NYSE: FTK) securities between August 3, 2026, and August 17, 2026, of the October 26, 2026, deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the company.
On August 17, 2026, Wolfpack Research published a report suggesting that Flotek's $400 million contract with the Puerto Rico Electric Power Authority (PREPA), accounting for approximately 57% of FTK's backlog, had been canceled. This news led to a significant drop in Flotek's stock price, with the share price falling $7.17, or 20.01%, to close at $28.66 per share on unusually heavy trading volume.
The next day, on August 18, 2026, the Financial Oversight and Management Board for Puerto Rico directed PREPA to terminate a 10-year power generation contract, in which Flotek held project responsibilities. Flotek's stock price dropped another $1.64, or 5.72%, to close at $27.02 per share on unusually heavy trading volume.
On August 19, 2026, Flotek confirmed the termination of the Puerto Rico power contract. The company disclosed that PREPA had formally notified the company of the termination of the power purchase and operating agreement, effective immediately. This news caused Flotek's stock to fall by $1.85, or 6.85%, to close at $25.17 per share on unusually heavy trading volume.
Faruqi & Faruqi, LLP is investigating potential claims against Flotek Industries, alleging that the company and its executives violated federal securities laws by making false and/or misleading statements and failing to disclose credible reasons to doubt the experience, organization, and financial capacity of the consortium parties involved in the PREPA project. As a result, the lawsuit claims there was a meaningful risk that revenue from the PREPA contract would not be realized.
Faruqi & Faruqi, LLP, with offices in New York, Pennsylvania, California, and Georgia, has a long history of representing investors and has recovered hundreds of millions of dollars for shareholders since its founding in 1995.
Josh Wilson, a partner at Faruqi & Faruqi, is encouraging investors who suffered losses to contact him directly. He can be reached at 877-247-4292 or 212-983-9330 (Ext. 1310).
To learn more about the Flotek Industries class action, investors can visit www.faruqilaw.com/FTK. The firm also invites anyone with information about Flotek Industries' conduct to contact them, including whistleblowers, former employees, and shareholders.
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For frequently asked questions (FAQs) regarding the Flotek Industries securities fraud lawsuit, interested parties can visit www.faruqilaw.com/FTK or contact Josh Wilson directly.