Class Action Lawsuit Filed Against Flotek Industries: Investors Urged to Act Now

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

In a significant legal development, the Pomerantz Law Firm has announced that a class action lawsuit has been instituted against Flotek Industries, Inc. (NYSE: FTK). This alert is primarily directed at investors who have suffered financial losses in the company due to possible securities fraud and other illicit business practices.

Important Details for Investors

Investors who believe they have incurred losses through their investment in Flotek are encouraged to reach out to Pomerantz LLP. Interested parties can contact Danielle Peyton via email at [email protected] or by phone at 646-581-9980, toll-free at 888-4-POMLAW, ext. 7980. When reaching out, it is suggested that investors provide their mailing address, phone number, and the number of shares acquired.

The deadline for filing to become the Lead Plaintiff in this class action is October 26, 2026. Investors must have purchased or otherwise acquired Flotek securities during the Class Period to participate.

Background of the Case

The lawsuit stems from allegations regarding deceptive practices allegedly engaged in by Flotek and its management team. On August 3, 2026, Flotek announced a significant milestone—securing a 10-year agreement to support a natural gas-fired power generation project for the Puerto Rico Electric Power Authority (PREPA). This venture was purported to generate an estimated revenue backlog of approximately $400 million due to the contract.

However, shortly after this announcement, things took a drastic turn. On August 17, 2026, Wolfpack Research released a report claiming that the contract with PREPA had been canceled. The report hinted at a series of alarming revelations, including that Flotek had taken over a contract signed just two days earlier, which specifically relied on another contractor, Enchanted Rock, for its technical and operational capabilities.

Consequences and Market Reaction

The aftermath of this report was severe, with Flotek’s stock plummeting by $7.17 or 20.01 percent, closing at $28.66 per share. Further complications arose when, on August 18, 2026, the Financial Oversight and Management Board for Puerto Rico voted to terminate the 10-year contract with Flotek. This directive prompted an immediate halt to the ongoing work on the Aguirre Power Plant project and further sent Flotek's stock down by $1.64, or 5.72 percent, closing at $27.02 that day.

The Role of Pomerantz LLP

Pomerantz LLP has established itself as a leading firm in corporate, securities, and antitrust class litigation. Founded over 85 years ago, it has built a reputation for fighting for the rights of victims affected by securities fraud and other corporate misconduct. The firm has secured numerous multimillion-dollar settlements for class members over the years. The current class action against Flotek Industries illustrates Pomerantz’s commitment to addressing such issues effectively.

For more information on how to join the class action or to understand your rights as an investor, please consult Pomerantz's website at www.pomerantzlaw.com.

Conclusion

The situation at Flotek Industries highlights the potential risks associated with investing in volatile markets. The outcomes of this class action lawsuit may not only hold the firm accountable but also reinforce the importance of due diligence for investors. Stay informed of developments as the situation unfolds and ensure you are aware of the critical deadlines if you have been affected.

For queries regarding the class action, investors can reach out to Pomerantz LLP directly to ascertain their eligibility and next steps.