BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased certain Flotek Industries, Inc. ("Flotek" or the "Company") (NYSE:FTK) securities between October 23, 2014 and November 9, 2015, inclusive (the “Class Period”). Investors that have suffered a loss of over $100,000 on their Flotek securities holdings are encouraged to contact Howard G. Smith, Esq. to discuss their legal rights.
Flotek is a global developer and distributor of a portfolio of oilfield technologies, including specialty chemicals, down-hole drilling and production equipment. It serves major and independent companies in the domestic and international oilfield service industry.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose the following: (1) the data used in the Company’s comparison of wells using and not using CnF was misreported; (2) the Company’s FracMax application did not perform as claimed; (3) the Company lacked adequate internal controls; and (4) as a result of the foregoing, the Company’s statements about its business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
If you purchased Flotek securities you may move the Court no later than January 11, 2016 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
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