NEW YORK, Aug. 27, 2026 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, is investigating Flotek Industries, Inc. (NYSE: FTK) (“Flotek” or the “Company”) for potential violations of the federal securities laws.
On August 3, 2026, Flotek announced a 10-year, 400 MW power generation agreement with the Puerto Rico Electric Power Authority (“PREPA”), which the Company said would add approximately $400 million to its revenue backlog — roughly 57% of Flotek's total backlog.
On August 17, 2026, Wolfpack Research published a report alleging that the PREPA agreement had already been cancelled and raising doubts about the experience, organization, and financial capacity of the consortium parties involved in the project. PREPA subsequently confirmed that it had terminated the agreement, effective immediately. The investigation concerns whether Flotek and its officers and/or directors concealed the risk that revenue from the PREPA contract would not materialize, and whether the Company had a reasonable basis for its positive statements about its business and prospects.
Following this news, the price of Flotek stock fell $7.17 per share, or approximately 20%, to close at $28.66 per share on August 17, 2026, with the stock continuing to decline over the following two trading days, causing losses to shareholders.
“Our investigation concerns whether the company and its executives provided investors with accurate and complete information about the company,” said attorney Andrea Farah, Lowey Dannenberg, P.C. partner and head of the firm's securities practice.
If you suffered a loss in Flotek securities, and wish to participate, or learn more about your eligibility, contact our attorneys Andrea Farah (afarah@lowey.com) at (914) 733-7256 or Vincent R. Cappucci Jr. (vcappucci@lowey.com) at (914) 733-7278.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.
Contact
Lowey Dannenberg P.C.
44 South Broadway, Suite 1100
White Plains, NY 10601
Tel: (914) 733-7256
Email: investigations@lowey.com
SOURCE: Lowey Dannenberg
