Investors of Flotek Industries, Inc. Urged to Act Amid Class Action Lawsuit Developments

Investor Alert: Class Action Lawsuit Filed Against Flotek Industries, Inc.

Introduction
In a significant development for investors in Flotek Industries, Inc. (NYSE: FTK), Pomerantz LLP has confirmed that a class action lawsuit has been initiated against the company. Investors who sustained losses on their investments are urged to take notice of the deadlines and details surrounding the lawsuit.

Key Details of the Lawsuit
The ongoing lawsuit centers on allegations that Flotek and some of its executives may have participated in securities fraud or engaged in unethical business practices. Affected investors are encouraged to reach out to Pomerantz LLP to determine their eligibility for class membership. To be considered as a lead plaintiff, investors must file a motion by October 26, 2026. For further details, investors can visit www.pomerantzlaw.com to access the Complaint and find additional information about joining the class action.

Recent Developments at Flotek
Flotek has been in the spotlight recently after announcing a significant agreement on August 3, 2026. The company secured a 10-year contract with the Puerto Rico Electric Power Authority (PREPA) aimed at supporting a major 400 MW natural gas-fired power generation project, which was intended to help alleviate the energy crisis in Puerto Rico. Flotek has estimated that this agreement could result in a revenue backlog of approximately $400 million.

However, the situation took a turn when on August 17, 2026, a report from Wolfpack Research claimed that the $400 million PREPA contract was canceled, which accounted for nearly 57% of Flotek’s backlog. The report alleged that Flotek's involvement in the contract was unauthorized and that the company had replaced another contractor, Enchanted Rock, without proper authorization. The implications of this report led to substantial skepticism regarding Flotek’s business practices.

Stock Price Reactions
Following the revelation of the alleged cancellation, Flotek's stock price plummeted by 20.01%, closing at $28.66 per share on August 17, 2026. Subsequently, on August 18, the Financial Oversight and Management Board for Puerto Rico decided to terminate the 10-year agreement in which Flotek was involved. Despite this termination, Flotek stated that they have not received any formal notice of termination regarding their project responsibilities. The market responded to this uncertainty with further declines in Flotek's stock, which fell by an additional 5.72% to close at $27.02 per share on August 18, 2026.

The Role of Pomerantz LLP
Founded by the late Abraham L. Pomerantz, a pivotal figure in class action law, Pomerantz LLP has established itself as a leader in corporate, securities, and antitrust litigation. The firm boasts over 85 years of distinguished service in advocating for the rights of investors affected by securities fraud and corporate misconduct. Notably, Pomerantz has successfully recovered substantial awards for class members in the past, highlighting their commitment to achieving justice for investors.

Conclusion
Affected investors of Flotek Industries, Inc. should remain vigilant about the ongoing class action lawsuit and associated deadlines. Engaging with Pomerantz LLP may provide potential claimants with the opportunity to recover losses incurred from their investments. As the situation unfolds, investors are advised to stay informed and act promptly to ensure their voices are heard in this significant legal matter. For inquiries, investors can contact Danielle Peyton at Pomerantz LLP via email or phone, as detailed in the lawsuit announcement.