The complaint centers on allegations that Flotek concealed critical risks surrounding its deal with the Puerto Rico Electric Power Authority (PREPA). Specifically, the litigation claims the company failed to address doubts regarding the financial capacity and organizational experience of the consortium partners involved in the project. These omissions allegedly left investors with a distorted view of the company’s business prospects and the likelihood of realizing contract revenue.
Investors Face October Deadline in Flotek Industries Fraud Suit
Investors who incurred financial losses in Flotek Industries, Inc. between August 3 and August 17, 2026, now have the window to act as lead plaintiffs in a looming class action lawsuit. The case, spearheaded by Glancy Prongay Wolke & Rotter LLP, targets alleged misrepresentations regarding a major power generation contract.
Those looking to serve as lead plaintiff must file their motion with the court no later than October 26, 2026. While the law firm Glancy Prongay Wolke & Rotter LLP is actively soliciting participants, investors retain the right to select their own counsel or remain as absent class members without taking immediate action. The firm, which recently secured a high ranking in investor recoveries, notes that no class has been certified in the matter to date.
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