NEW YORK CITY, NY / ACCESS Newswire / October 9, 2026 / Levi & Korsinsky, LLP alerts investors in Flotek Industries, Inc. (NYSE: FTK) that a securities class action has been filed on behalf of shareholders who purchased securities between August 3, 2026 and August 17, 2026. Find out if you could qualify to recover your per-share losses. You may also contact Joseph E. Levi, Esq. at jlevi@levikorsinsky.com or ☎(212) 363-7500.

FTK closed at a Class Period high of $38.82 on August 11, 2026 and closed at $25.17 on August 19, 2026. The last day to move for lead plaintiff is October 26, 2026.

Published Research Reframed the FTK Story

On August 17, 2026, Wolfpack Research published a report stating that Flotek's $400 million contract with the Puerto Rico Electric Power Authority, which the report described as roughly 57% of FTK's backlog, had been canceled. Coverage indicated the report also raised an allegedly unauthorized signature attributed to Enchanted Rock, LLC and a criminal referral by a federally appointed financial regulator. Shares fell $7.17, or 20.01%, to close at $28.66 that day on unusually heavy trading volume.

Coverage Timeline as the Contract Unwound

• August 3, 2026: Flotek announced a 10-year PREPA agreement expected to generate an approximately $400 million revenue backlog and roughly $40 million in annual revenue at full deployment.
• August 14, 2026: FTK closed at $35.83.
• August 17, 2026: Third-party research reported the contract had been canceled; shares fell 20.01% to $28.66.
• August 18, 2026: An 8-K disclosed the Oversight Board had voted to direct PREPA to terminate the contract and that a work-hold directive had issued; shares fell $1.64, or 5.72%, to $27.02.
• August 19, 2026: Flotek confirmed formal termination notice from PREPA effective immediately; shares fell $1.85, or 6.85%, to $25.17.

Why the Reassessment Matters to FTK Holders

The lawsuit maintains that the Company's Class Period statements omitted credible reasons to doubt the experience, organization, and financial capacity of the consortium parties, and that expected PREPA revenue was therefore at risk. Plaintiffs assert that shareholders who bought at prices reflecting a $400 million backlog absorbed the correction when that backlog was reported as gone.

"When analyst and market expectations are built on incomplete or misleading company disclosures, the resulting corrections can cause significant investor harm. Here the complaint alleges a contract representing roughly 57% of backlog was terminated within weeks of being announced." -- Joseph E. Levi, Esq.

Submit your information here or call (212) 363-7500.

WHY LEVI & KORSINSKY - Ranked in ISS Securities Class Action Services' Top 50 Report for seven consecutive years, Levi & Korsinsky, LLP is a nationally recognized leader in shareholder rights litigation. With a team of over 70 professionals, the firm has recovered hundreds of millions of dollars for investors. Investors who suffered losses have until October 26, 2026 to seek appointment as lead plaintiff.

Frequently Asked Questions About the FTK Lawsuit

Q: How much did FTK stock drop?
A: Shares fell approximately $10.66, or about 29.75% over a period of three days following repeated disclosures regarding the Company's $400 million contract with PREPA. Investors who purchased shares during the Class Period at artificially inflated prices and suffered losses may be eligible to seek compensation.

Q: What specific misstatements does the FTK lawsuit allege?
A: The complaint alleges Flotek Industries, Inc. made materially false or misleading statements regarding the approximately $400 million PREPA revenue backlog and the capacity of its consortium partners during the Class Period. When the contract's termination was disclosed, the stock price declined sharply.

Q: When did Flotek Industries, Inc. allegedly mislead investors?
A: The Class Period runs from August 3, 2026 to August 17, 2026. The complaint alleges that corrective disclosures revealed information that caused a significant stock decline.

Q: What do FTK investors need to do right now?
A: Investors may gather brokerage records showing purchase dates, share quantities, and prices paid. Submit your information for a no-cost, no-obligation evaluation of your potential recovery. No immediate action is required to remain eligible as an absent class member.

Q: What is a lead plaintiff and why does it matter?
A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.

Q: What if I already sold my FTK shares -- can I still recover losses?
A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought during the Class Period and sold at a loss may still be eligible to participate.

Q: What does it cost me to participate?
A: There is no upfront cost to submit your information and review whether you may be eligible to recover. Should you choose to participate in the securities class action, they are generally handled on a contingency basis, with any attorneys' fees and expenses subject to court approval.

Q: Do I need to go to court or give testimony?
A: No. The overwhelming majority of class members never appear in court or give depositions. If there is a settlement or recovery, eligible class members generally submit a claim form to seek their portion.

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CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171

SOURCE: Levi & Korsinsky, LLP