Lowey Dannenberg Investigates Flotek Industries for Securities Laws Violations
News related to:Flotek Industries, Inc · 1 min read
NEW YORK, Sept. 17, 2026 /CourierPR/ -- Lowey Dannenberg P.C., a preeminent law firm, is investigating Flotek Industries, Inc. (NYSE: FTK) for potential violations of the federal securities laws. The investigation centers on whether Flotek and its officers or directors concealed the risk that revenue from a recently announced power generation agreement with the Puerto Rico Electric Power Authority (PREPA) would not materialize.
On August 3, 2026, Flotek announced a 10-year, 400 MW power generation agreement with PREPA, which was expected to add approximately $400 million to its revenue backlog, roughly 57% of Flotek's total backlog. However, on August 17, 2026, Wolfpack Research published a report alleging that the PREPA agreement had already been cancelled and raising doubts about the experience, organization, and financial capacity of the consortium parties involved in the project. PREPA subsequently confirmed that it had terminated the agreement, effective immediately.
Following this news, the price of Flotek stock fell $7.17 per share, or approximately 20%, to close at $28.66 per share on August 17, 2026. The stock continued to decline over the following two trading days, causing losses to shareholders.
Lowey Dannenberg, P.C. is seeking to represent investors who suffered losses in Flotek securities. If you suffered a loss in Flotek securities and wish to participate, or learn more about your eligibility, contact our attorneys Andrea Farah ([email protected]) at (914) 733-7256 or Vincent R. Cappucci Jr. ([email protected]) at (914) 733-7278. For more information, contact Lowey Dannenberg P.C. at 44 South Broadway, Suite 1100, White Plains, NY 10601, Tel: (914) 733-7256, Email: [email protected].