The lawsuit, spearheaded by the firm Glancy Prongay Wolke & Rotter LLP, alleges that Flotek misled shareholders regarding the viability of its partnership with PREPA on a power generation project. According to the complaint, the company failed to disclose significant doubts concerning the financial capacity and organizational experience of the consortium involved in the deal. These omissions allegedly created a substantial risk that the anticipated revenue from the PREPA contract would never materialize, rendering the company’s public statements during the two-week period materially false or lacking a reasonable basis.
Flotek Industries Faces Class Action Lawsuit Over PREPA Contract
Investors who incurred financial losses from Flotek Industries, Inc. stock between August 3 and August 17, 2026, now have the opportunity to serve as lead plaintiff in a pending securities fraud class action. The legal window to petition the court closes on October 26, 2026.
While no class has been formally certified, affected investors may choose to participate by contacting counsel or remain absent class members. Those interested in leading the litigation must file their motion with the court by the October 26 deadline. The firm handling the case emphasizes that past litigation successes do not guarantee future outcomes, and investors retain the right to select their own legal representation.
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