FTK Investor Alert: Flotek Industries, Inc. Securities Class Action Notice - Contact SueWallSt

Important Notice Regarding Alleged $400 Million PREPA Contract Misrepresentations — Flotek shares fell nearly 30% after the Puerto Rico agreement unwind.

NEW YORK, Oct. 15, 2026 /PRNewswire/ -- SueWallSt notifies investors in Flotek Industries, Inc. (NYSE: FTK) that a class action lawsuit 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 losses. You may also contact Joseph E. Levi, Esq. at [email protected] or (888) SueWallSt.

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. The contract at issue was projected to produce approximately $400 million in revenue backlog and roughly $40 million in annual revenue. Applications to serve as lead plaintiff must be filed by October 26, 2026.

The Alleged $400 Million Backlog Projection Methodology

The Company announced a 10-year agreement to support a 400 MW natural gas-fired power generation project for the Puerto Rico Electric Power Authority, telling the market it expected to generate a revenue backlog of approximately $400 million through the rental of gas-fired power generation equipment and deployment of its proprietary conditioning and distribution systems. That single projection represented approximately 57% of the Company's reported backlog, according to the lawsuit.

The complaint alleges that the projection rested on a consortium arrangement whose experience, organization, and financial capacity there were credible reasons to doubt, and that investors were not told of that risk while the backlog figure was being promoted.

Key PREPA Backlog Allegations for Shareholders

• The lawsuit contends the roughly $400 million backlog figure was presented without disclosing credible reasons to doubt the consortium parties behind the project.
• Approximately 90% of the project's power generation capacity and execution was to be provided by third parties over which the Company stated it had limited or no control.
• The complaint alleges the risk that revenue under the agreement would not be realized was not adequately conveyed to investors.
• The Financial Oversight and Management Board for Puerto Rico voted to revoke approval of the contract and directed PREPA to terminate it under Section 204 of PROMESA.
• PREPA delivered formal notice terminating the power purchase and operating agreement effective immediately, eliminating the projected $400 million backlog.

How the Alleged Overstatement Affected Reported Prospects

The lawsuit contends that positive statements about the Company's business, operations, and prospects lacked a reasonable basis because the underlying award was allegedly exposed to defects in the procurement and consortium structure that were not disclosed. Following the disclosures, the projected revenue from the project stands at $0.

"This case presents important questions about backlog and contract-award disclosure obligations in the energy technology sector, particularly where a single projected agreement is alleged to have accounted for roughly 57% of a company's reported backlog." -- Joseph E. Levi, Esq.

Submit your information here or call (888) SueWallSt.

WHY SUEWALLST: SueWallSt is powered by Levi & Korsinsky LLP. Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.

Frequently Asked Questions About the FTK Lawsuit

Q: What is the FTK class action lawsuit about? A: A securities class action has been filed against Flotek Industries, Inc. (NYSE: FTK) alleging materially false and misleading statements between August 3, 2026 and August 17, 2026. Shares fell approximately nearly 30% across three trading sessions following a series of disclosures leading to the final announcement that the Puerto Rico Electric Power Authority terminated the 10-year, $400 million power agreement. Investors who purchased shares during the Class Period and suffered losses may be eligible to seek compensation.

Q: Who is eligible to join the FTK investor lawsuit? A: Investors who purchased FTK stock or securities between August 3, 2026 and August 17, 2026 and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses -- not on whether you still hold the shares.

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: 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: What if I missed the lead plaintiff deadline? A: The deadline applies only to investors seeking lead plaintiff appointment. Class members who miss it may still be able to participate in any potential settlement or recovery.

CONTACT:\
Levi & Korsinsky, LLP\
Joseph E. Levi, Esq.\
33 Whitehall Street, 27th Floor\
New York, NY 10004\
[email protected]\
Tel: (888) SueWallSt\
Fax: (212) 363-7171

Attorney Advertising. Prior results do not guarantee similar outcomes.

SOURCE SueWallSt.com