FTK CLASS ACTION NOTICE: Glancy Prongay Wolke & Rotter LLP Files Securities Fraud Lawsuit On Behalf Of Flotek Industries, Inc. Investors

LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay Wolke & Rotter LLP (“GPWR”), announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York, captioned Bashir v. Flotek Industries, Inc. et al., 1:26-cv-07285, on behalf of persons and entities that purchased or otherwise acquired Flotek Industries, Inc. (“Flotek” or the “Company”) (NYSE: FTK) securities between August 3, 2026 and August 17, 2026, inclusive (the “Class Period”). Plaintiff pursues claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”).

Investors are hereby notified that they have 60 days from the date of this notice to move the Court to serve as lead plaintiff in this action.

IF YOU SUFFERED A LOSS ON YOUR FLOTEK INDUSTRIES, INC. INVESTMENTS, CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS UNDER THE FEDERAL SECURITIES LAWS.

What Happened?

On August 17, 2026, at approximately 1:20 pm EST, Wolfpack Research published a report alleging Flotek Industry Inc.’s “$400 million contract with the Puerto Rico Electric Power Authority (PREPA), accounting for ~57% of FTK’s backlog, has been canceled.” According to the report, Flotek had stepped into the $6 billion PREPA deal two days after the deal was signed, and was swapped in place of another contractor, Enchanted Rock, LLC (“Enchanted Rock”). The report further claimed that Enchanted Rock’s “name and signature were used without authorization,” so a “federally appointed financial regulator revoked its authorization over the deal due to [the] apparent unauthorized signature and referred the matter for criminal prosecution.”

On this news, Flotek’s stock price fell $7.17, or 20.01%, to close at $28.66 per share on August 17, 2026, thereby injuring investors.

Then, on August 18, 2026, before the market opened, the Company announced the Financial Oversight and Management Board for Puerto Rico voted to direct the PREPA to terminate a 10-year power generation contract in which Flotek holds project responsibilities. PREPA issued a directive to all consortium parties to immediately hold work on the proposed 400 MW Aguirre Power Plant project pending its evaluation of recent developments, although Flotek said it has not received a formal termination notice and its participation in the project remains subject to resolution of the PREPA contract matter.

On this news, Flotek’s stock price fell $1.64, or 5.72%, to close at $27.02 on August 18, 2026, thereby further injuring investors.

Then, on August 19, 2026, before the market opened, Flotek confirmed the termination of the Puerto Rico power contract. The Company disclosed that PREPA delivered formal notice terminating the power purchase and operating agreement with the company, effective immediately.

On this news, Flotek’s stock price fell $1.85, or 6.85%, to close at $25.17 per share on August 19, 2026, thereby further injuring investors.

What Is The Lawsuit About?

The complaint filed in this class action alleges that between August 3, 2026 and August 17, 2026, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) that there were credible reasons to doubt the experience, organization, and financial capacity of the consortium parties for PREPA’s power generation project; (2) that, as a result, there was a risk that revenue from the PREPA contract would not be realized; and (3) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

If you purchased or otherwise acquired Flotek Industries, Inc. securities between August 3, 2026 and August 17, 2026, you may move the Court no later than 60 days from the date of this notice to ask the Court to appoint you as lead plaintiff.

Contact Us To Participate or Learn More:

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 us:

Charles Linehan, Esq.,
Glancy Prongay Wolke & Rotter LLP,
1925 Century Park East, Suite 2100,
Los Angeles California 90067
Email: [e-mail]
Telephone: [phone],
Toll-Free: 888-773-9224
Visit our website at www.glancylaw.com.
Follow us for updates on LinkedIn, Twitter, or Facebook.

If you inquire by email, please include your mailing address, telephone number and number of shares purchased.

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.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.