{"success":true,"data":{"pressRelease":{"id":"131410","rtpr_id":"nBw2C6d6na","ticker":"FTK","exchange":"NYSE","all_tickers":["FTK"],"title":"FTK Investor Alert: Johnson Fistel Encourages Flotek Industries, Inc. Investors to Contact the Firm Ahead of October 26, 2026 Lead Plaintiff Deadline","author":"Business Wire","published_at":"2026-08-31T16:14:00.101Z","article_body":"FTK Investor Alert: Johnson Fistel Encourages Flotek Industries, Inc.\nInvestors to Contact the Firm Ahead of October 26, 2026 Lead Plaintiff\nDeadline\n\nJohnson Fistel, PLLP, a shareholder-rights law firm, announces that a\nsecurities class action lawsuit has been filed on behalf of investors who\npurchased or otherwise acquired Flotek Industries, Inc. (NYSE: FTK) securities\nbetween August 3, 2026 and August 17, 2026, inclusive (the “Class\nPeriod”).\n\nThe lawsuit, captioned Bashir v. Flotek Industries, Inc., et al., No.\n1:26-cv-07285, is pending in the United States District Court for the Southern\nDistrict of New York. The complaint alleges violations of Sections 10(b) and\n20(a) of the Securities Exchange Act of 1934 and SEC Rule 10b-5.\n\nJoin the Flotek Investigation\n\nIf you purchased Flotek securities during the Class Period and suffered\nlosses, you may be eligible to seek appointment as lead plaintiff. The\ndeadline to file a motion for appointment as lead plaintiff is October 26,\n2026.\n\nTo learn more and submit your information, visit:\n\nhttps://www.johnsonfistel.com/investigations/flotek-industries/\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.johnsonfistel.com%2Finvestigations%2Fflotek-industries%2F&esheet=54596675&newsitemid=20260831899468&lan=en-US&anchor=https%3A%2F%2Fwww.johnsonfistel.com%2Finvestigations%2Fflotek-industries%2F&index=1&md5=e49317bb4312d91e10261bc1763048e9)\n\nYou may also contact Johnson Fistel, PLLP at jimb@johnsonfistel.com\n(mailto:jimb@johnsonfistel.com) or (619) 814-4471. There is no cost or\nobligation to you.\n\nWhat Is the Flotek Class Action About?\n\nAccording to the complaint, Flotek announced on August 3, 2026 that it had\nbeen awarded a 10-year agreement to support a 400-megawatt natural-gas-fired\npower-generation project for the Puerto Rico Electric Power Authority. Flotek\nstated that it expected the agreement to generate approximately $400 million\nin potential revenue backlog.\n\nThe complaint alleges that defendants made materially false or misleading\nstatements or failed to disclose that there were credible reasons to doubt the\nexperience, organization, and financial capacity of the consortium parties\ninvolved in the PREPA project. The complaint further alleges that, as a\nresult, there was a risk that revenue from the PREPA agreement would not be\nrealized and that defendants’ positive statements concerning Flotek’s\nbusiness, operations, and prospects were materially misleading or lacked a\nreasonable basis.\n\nWhy Did Flotek Stock Drop?\n\nOn August 17, 2026, Wolfpack Research issued a report alleging that Flotek’s\napproximately $400 million PREPA opportunity, which reportedly represented\napproximately 57% of the Company’s backlog, had been canceled.\n\nAccording to the complaint, the report questioned the experience,\norganization, and financial capacity of the consortium involved in the\nproject. The report also alleged that Enchanted Rock’s name and an\nexecutive’s signature had been used without authorization in connection with\nthe underlying agreement.\n\nFollowing the report, Flotek’s stock price declined $7.17 per share, or\n20.01%, to close at $28.66 per share on August 17, 2026.\n\nBefore the market opened on August 18, 2026, Flotek disclosed that the\nFinancial Oversight and Management Board for Puerto Rico had directed PREPA to\nterminate the power purchase and operating agreement and that PREPA had\ninstructed the consortium to place all work on hold. Flotek stated at that\ntime that it had not received formal notice of termination. Flotek’s stock\ndeclined an additional $1.64 per share, or 5.72%, to close at $27.02 per share\non August 18, 2026.\n\nBefore the market opened on August 19, 2026, Flotek confirmed that PREPA had\nformally terminated the agreement, effective immediately. Flotek’s stock\ndeclined another $1.85 per share, or 6.85%, to close at $25.17 per share on\nAugust 19, 2026.\n\nWhat Is a Lead Plaintiff?\n\nThe lead plaintiff is a court-appointed investor who acts on behalf of the\nproposed class in directing the litigation. Investors seeking appointment as\nlead plaintiff must file their motions with the Court by October 26, 2026.\n\nServing as lead plaintiff is not required to share in any potential recovery.\nInvestors may retain counsel of their choice, take no action, or remain absent\nmembers of the proposed class. No class has yet been certified.\n\nAbout Johnson Fistel, PLLP\n\nJohnson Fistel, PLLP is a nationally recognized shareholder-rights law firm\nwith offices in California, New York, Georgia, Idaho, and Colorado. The firm\nrepresents individual and institutional investors in securities class actions,\nshareholder derivative lawsuits, and other matters involving violations of\nstate and federal law.\n\nJohnson Fistel has been recognized as one of the Top 10 Plaintiff Law Firms by\nISS Securities Class Action Services. In 2024, the firm recovered\napproximately $90,725,000 for investors in cases in which it served as lead or\nco-lead counsel.\n\nAttorney advertising. Past results do not guarantee future outcomes. Services\nmay be performed by attorneys in any of our offices. This press release may be\nconsidered a promotional communication. Frank J. Johnson is the attorney\nresponsible for this communication.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260831899468/en/\n(https://www.businesswire.com/news/home/20260831899468/en/)\n\nJohnson Fistel, PLLP\n501 W. Broadway, Suite 800\nSan Diego, CA 92101\nJames Baker, Investor Relations\n(619) 814-4471\njimb@johnsonfistel.com (mailto:jimb@johnsonfistel.com)\n\n\nCopyright Business Wire 2026","article_body_html":"","raw_payload":{"data":{"id":"nBw2C6d6na","title":"FTK Investor Alert: Johnson Fistel Encourages Flotek Industries, Inc. Investors to Contact the Firm Ahead of October 26, 2026 Lead Plaintiff Deadline","author":"Business Wire","ticker":"FTK","created":"2026-08-31T16:14:00.101Z","tickers":["FTK"],"exchange":"NYSE","article_body":"FTK Investor Alert: Johnson Fistel Encourages Flotek Industries, Inc.\nInvestors to Contact the Firm Ahead of October 26, 2026 Lead Plaintiff\nDeadline\n\nJohnson Fistel, PLLP, a shareholder-rights law firm, announces that a\nsecurities class action lawsuit has been filed on behalf of investors who\npurchased or otherwise acquired Flotek Industries, Inc. (NYSE: FTK) securities\nbetween August 3, 2026 and August 17, 2026, inclusive (the “Class\nPeriod”).\n\nThe lawsuit, captioned Bashir v. Flotek Industries, Inc., et al., No.\n1:26-cv-07285, is pending in the United States District Court for the Southern\nDistrict of New York. The complaint alleges violations of Sections 10(b) and\n20(a) of the Securities Exchange Act of 1934 and SEC Rule 10b-5.\n\nJoin the Flotek Investigation\n\nIf you purchased Flotek securities during the Class Period and suffered\nlosses, you may be eligible to seek appointment as lead plaintiff. The\ndeadline to file a motion for appointment as lead plaintiff is October 26,\n2026.\n\nTo learn more and submit your information, visit:\n\nhttps://www.johnsonfistel.com/investigations/flotek-industries/\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.johnsonfistel.com%2Finvestigations%2Fflotek-industries%2F&esheet=54596675&newsitemid=20260831899468&lan=en-US&anchor=https%3A%2F%2Fwww.johnsonfistel.com%2Finvestigations%2Fflotek-industries%2F&index=1&md5=e49317bb4312d91e10261bc1763048e9)\n\nYou may also contact Johnson Fistel, PLLP at jimb@johnsonfistel.com\n(mailto:jimb@johnsonfistel.com) or (619) 814-4471. There is no cost or\nobligation to you.\n\nWhat Is the Flotek Class Action About?\n\nAccording to the complaint, Flotek announced on August 3, 2026 that it had\nbeen awarded a 10-year agreement to support a 400-megawatt natural-gas-fired\npower-generation project for the Puerto Rico Electric Power Authority. Flotek\nstated that it expected the agreement to generate approximately $400 million\nin potential revenue backlog.\n\nThe complaint alleges that defendants made materially false or misleading\nstatements or failed to disclose that there were credible reasons to doubt the\nexperience, organization, and financial capacity of the consortium parties\ninvolved in the PREPA project. The complaint further alleges that, as a\nresult, there was a risk that revenue from the PREPA agreement would not be\nrealized and that defendants’ positive statements concerning Flotek’s\nbusiness, operations, and prospects were materially misleading or lacked a\nreasonable basis.\n\nWhy Did Flotek Stock Drop?\n\nOn August 17, 2026, Wolfpack Research issued a report alleging that Flotek’s\napproximately $400 million PREPA opportunity, which reportedly represented\napproximately 57% of the Company’s backlog, had been canceled.\n\nAccording to the complaint, the report questioned the experience,\norganization, and financial capacity of the consortium involved in the\nproject. The report also alleged that Enchanted Rock’s name and an\nexecutive’s signature had been used without authorization in connection with\nthe underlying agreement.\n\nFollowing the report, Flotek’s stock price declined $7.17 per share, or\n20.01%, to close at $28.66 per share on August 17, 2026.\n\nBefore the market opened on August 18, 2026, Flotek disclosed that the\nFinancial Oversight and Management Board for Puerto Rico had directed PREPA to\nterminate the power purchase and operating agreement and that PREPA had\ninstructed the consortium to place all work on hold. Flotek stated at that\ntime that it had not received formal notice of termination. Flotek’s stock\ndeclined an additional $1.64 per share, or 5.72%, to close at $27.02 per share\non August 18, 2026.\n\nBefore the market opened on August 19, 2026, Flotek confirmed that PREPA had\nformally terminated the agreement, effective immediately. Flotek’s stock\ndeclined another $1.85 per share, or 6.85%, to close at $25.17 per share on\nAugust 19, 2026.\n\nWhat Is a Lead Plaintiff?\n\nThe lead plaintiff is a court-appointed investor who acts on behalf of the\nproposed class in directing the litigation. Investors seeking appointment as\nlead plaintiff must file their motions with the Court by October 26, 2026.\n\nServing as lead plaintiff is not required to share in any potential recovery.\nInvestors may retain counsel of their choice, take no action, or remain absent\nmembers of the proposed class. No class has yet been certified.\n\nAbout Johnson Fistel, PLLP\n\nJohnson Fistel, PLLP is a nationally recognized shareholder-rights law firm\nwith offices in California, New York, Georgia, Idaho, and Colorado. The firm\nrepresents individual and institutional investors in securities class actions,\nshareholder derivative lawsuits, and other matters involving violations of\nstate and federal law.\n\nJohnson Fistel has been recognized as one of the Top 10 Plaintiff Law Firms by\nISS Securities Class Action Services. In 2024, the firm recovered\napproximately $90,725,000 for investors in cases in which it served as lead or\nco-lead counsel.\n\nAttorney advertising. Past results do not guarantee future outcomes. Services\nmay be performed by attorneys in any of our offices. This press release may be\nconsidered a promotional communication. Frank J. Johnson is the attorney\nresponsible for this communication.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260831899468/en/\n(https://www.businesswire.com/news/home/20260831899468/en/)\n\nJohnson Fistel, PLLP\n501 W. Broadway, Suite 800\nSan Diego, CA 92101\nJames Baker, Investor Relations\n(619) 814-4471\njimb@johnsonfistel.com (mailto:jimb@johnsonfistel.com)\n\n\nCopyright Business Wire 2026"},"type":"article","timestamp":"2026-08-31T16:14:00.147135745Z","server_sent_at_ms":1788192840147},"received_at":"2026-08-31T16:14:00.206Z","source_url":"https://www.businesswire.com/news/home/20260831899468/en/"},"analysis":{"id":"120318","press_release_id":"131410","analysis_json":{"industry":{"label":"Chemicals","sector":"Materials"},"redFlags":[],"eventType":"legal_litigation","narrative":"Johnson Fistel, PLLP announced a securities class action lawsuit against Flotek Industries concerning alleged false statements about a $400 million PREPA power project contract.\n\nThe lawsuit targets investors who purchased securities between August 3 and August 17, 2026, a period encompassing a Wolfpack Research report and subsequent contract termination disclosures.\n\nThis release is a plaintiff-firm solicitation encouraging investors to seek lead plaintiff status by October 26, 2026; no new disclosure has been made by Flotek itself.","sentiment":"neutral","agentHooks":{"shouldPost":false,"suggestedAngle":"Plaintiff-firm solicitation -- suppress."},"keyFigures":{},"quotedText":"no cost or obligation to you","namedEntities":{"people":[{"name":"James Baker","role":"Investor Relations at Johnson Fistel"},{"name":"Frank J. Johnson","role":"Attorney responsible for communication"}],"products":[],"companies":[{"name":"Flotek Industries, Inc.","ticker":"FTK"},{"name":"Johnson Fistel, PLLP","relationship":"plaintiff law firm"},{"name":"Puerto Rico Electric Power Authority","relationship":"counterparty"},{"name":"Wolfpack Research","relationship":"analyst firm"},{"name":"Enchanted Rock","relationship":"mentioned party"}],"dollarAmounts":[{"amount":"$400 million","context":"potential revenue backlog allegedly misrepresented"},{"amount":"$7.17","context":"stock price decline on August 17, 2026"},{"amount":"$28.66","context":"closing stock price on August 17, 2026"},{"amount":"$1.64","context":"stock price decline on August 18, 2026"},{"amount":"$27.02","context":"closing stock price on August 18, 2026"},{"amount":"$1.85","context":"stock price decline on August 19, 2026"},{"amount":"$25.17","context":"closing stock price on August 19, 2026"}]},"materialImpact":{"score":1,"reasoning":"Plaintiff law-firm shareholder solicitation issued by Johnson Fistel. No new disclosure from the issuer; no certified class, no settlement. 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