FTK DEADLINE: Levi & Korsinsky Reminds Flotek Industries, Inc. Investors of Upcoming Securities Class Action Deadline
Market Impact Alert: Flotek shares surrendered $10.66 per share across three consecutive high-volume sessions after the Company's $400 million Puerto Rico power contract was terminated.
NEW YORK, Sept. 23, 2026 /PRNewswire/ -- Levi & Korsinsky, LLP alerts investors in Flotek Industries, Inc. (NYSE: FTK) of a pending securities class action on behalf of shareholders who purchased securities between August 3, 2026 and August 17, 2026. Find out if you may qualify to recover losses. You may also contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.
FTK closed at $35.83 on August 14, 2026. Shares then fell $7.17 (20.01%) on August 17, $1.64 (5.72%) on August 18, and $1.85 (6.85%) on August 19, closing at $25.17 for a cumulative decline of $10.66 per share. To be considered for lead plaintiff, investors must file by October 26, 2026.
Three Sessions of Unusually Heavy Trading
Each of the three declines occurred on unusually heavy volume. The August 17 drop followed a published short-seller report asserting that the $400 million Puerto Rico Electric Power Authority contract had been canceled. The following sessions absorbed the Company's own filings confirming a work-hold directive and then formal termination.
What the Market Was Pricing Before the Decline
The pleading asserts that shares carried inflated value because investors understood the PREPA agreement to have expected annual revenue of approximately $40 million and a 10-year backlog of approximately $400 million. As averred, the complaint charges that investors were not told there were credible reasons to doubt the experience, organization, and financial capacity of the consortium parties, or that a third party's signature had allegedly been used without authorization.
- Class Period high: $38.82 per share (August 11, 2026)
- August 17 close: $28.66 after a 20.01% single-session decline
- August 18 close: $27.02 following the Company's 8-K on the oversight board vote
- August 19 close: $25.17 after formal termination notice from PREPA
- Aggregate move from high to final disclosure close: $13.65 per share, or 35.16%
- Expected revenue from the project after termination: $0
"A three-day repricing on unusually heavy volume is a meaningful signal, and the complaint asserts that the decline followed disclosures correcting what investors had previously been told about this contract." -- Joseph E. Levi, Esq.
Submit your information here or call (212) 363-7500.
ABOUT THE FIRM — For over two decades, Levi & Korsinsky has represented shareholders in securities class actions. Ranked in ISS Top 50 for seven consecutive years. Investors who suffered losses have until October 26, 2026 to seek appointment as lead plaintiff.
Frequently Asked Questions About the FTK Lawsuit
Q: What court was the FTK class action filed in? A: The case was filed in the United States District Court for the Southern District of New York, governed by the Private Securities Litigation Reform Act of 1995.
Q: Who are the defendants named in the FTK lawsuit? A: The complaint names Flotek Industries, Inc. and individual defendants including senior executives who allegedly signed SEC filings, made public statements, or certified financial disclosures under Sarbanes-Oxley.
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 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: 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.
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.
CONTACT:\
Levi & Korsinsky, LLP\
Joseph E. Levi, Esq.\
Ed Korsinsky, Esq.\
33 Whitehall Street, 27th Floor\
New York, NY 10004\
Tel: (212) 363-7500\
Fax: (212) 363-7171
Attorney Advertising. Prior results do not guarantee similar outcomes.
SOURCE Levi & Korsinsky, LLP
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