#United States #New York #securities lawsuit #Lead Plaintiff #Flotek Industries

Reminder for Flotek Industries Investors

As Flotek Industries, Inc. (NYSE: FTK) faces a class action lawsuit, SueWallSt has reminded shareholders of the critical lead plaintiff deadline approaching on October 26, 2026. This legal action directly involves two of the company's senior executives: CEO Ryan Ezell and CFO Bond Clement, who are named as individual defendants.

Key Details of the Case

The lawsuit pertains to allegations that these high-ranking officers made false statements regarding a $400 million contract with PREPA, which was abruptly terminated just 16 days after its announcement. The implications of this terminated contract are significant, as it reportedly constituted about 57% of Flotek's backlog at the time.

The stock performance of Flotek Industries has shown a stark decline, with shares dropping from $35.83 on August 14, 2026, to $25.17 by August 19, 2026, illustrating a loss of 29.75% in merely a few trading days. Investors who purchased shares in the period from August 3, 2026, to August 17, 2026, are eligible to participate in the lawsuit to potentially recover their losses.

The Lawsuit's Allegations

According to the complaint filed in the United States District Court for the Southern District of New York, both Ezell and Clement are accused under sections 10(b) and 20(a) of the Securities Exchange Act of 1934, along with Rule 10b-5. The critical points of concern include:

• - Control over Public Statements: Both executives had control over the announcement of the 10-year agreement, which projected significant revenue, thus carrying personal responsibility for any inaccuracies.
• - Unrevealed Concerns: Investors were allegedly not informed about credible concerns regarding the financial stability and experience of the consortium partners involved in the PREPA contract.
• - Potential Recovery: Under Section 20(a), individuals who are found to have controlled a company that violated statutes could be liable for damages.

What Investors Need to Know

Joseph E. Levi, Esq. of Levi & Korsinsky LLP, highlights the seriousness of the allegations, stating, "Officers who certify a company's filings take on personal responsibility for their accuracy. The projected revenues shown to investors did not disclose known doubts about the companies involved in the contract."

Next Steps for Investors

For those affected by the share price drop, it is crucial to gather brokerage records to validate purchase dates and quantity of shares owned. Investors should consider submitting their information to evaluate their eligibility for recovery without any obligation. Importantly, individuals who sold their FTK shares during the class period may still be eligible to make claims.

Typically, class members are not required to appear in court or provide depositions, and cases are handled on a contingency basis. This means there would be no upfront costs to participate in the suit.

Closing Thoughts

As the October 26 deadline approaches, shareholders are encouraged to take action regarding their claims. SueWallSt provides the necessary support for stakeholders to understand their rights and the recovery process. If you have suffered losses from your Flotek Industries investments, now is the time to engage with this legal opportunity.

For detailed assistance and guidance, contact Joseph E. Levi, Esq. at [email protected] or call (888) SueWallSt for more information. Stay informed to ensure you maximize your potential recovery in this ongoing lawsuit.