Philadelphia, Pennsylvania--(Newsfile Corp. - August 28, 2026) - Berger Montague PC, a leading national plaintiffs' law firm, announces a class action lawsuit against Flotek Industries, Inc. (NYSE: FTK) ("Flotek" or the "Company") on behalf of investors who purchased or acquired Flotek securities during the period from August 3, 2026 through August 17, 2026 (the "Class Period"). The deadline to apply for lead plaintiff is October 26, 2026.

Q&A

What is this lawsuit about?

This lawsuit concerns whether Flotek and certain of its officers made materially false or misleading statements, or failed to disclose material facts, about the status of the Company's $400 million, 10-year contract with the Puerto Rico Electric Power Authority ("PREPA") to support a 400 MW power generation project.

On August 17, 2026, at approximately 1:20 p.m. ET, Wolfpack Research published a report alleging that Flotek's PREPA contract, accounting for approximately 57% of the Company's backlog, had been canceled and that the Company had not disclosed that the deal had been in "serious jeopardy." According to the report, Flotek had stepped into the deal two days after it was originally signed, replacing another contractor, Enchanted Rock, LLC, whose name and signature the report said were used without authorization -- and that a federally appointed financial regulator had revoked its authorization over the deal on that basis and referred the matter for criminal prosecution. On this news, Flotek's stock price fell $7.17 per share, or 20.01%, to close at $28.66 per share on August 17, 2026.

Then, before the market opened on August 18, 2026, Flotek confirmed that the Financial Oversight and Management Board for Puerto Rico had voted to direct PREPA to terminate the contract, and that PREPA had directed all consortium parties to immediately hold work on the project pending its evaluation. On this news, Flotek's stock price fell $1.64 per share, or 5.72%, to close at $27.02 per share on August 18, 2026.

Then, before the market opened on August 19, 2026, Flotek confirmed the termination of the Puerto Rico power contract. On this news, Flotek's stock price fell $1.85 per share, or 6.85%, to close at $25.17 per share on August 19, 2026.

Who is Flotek? Flotek, headquartered in Houston, Texas, is a chemistry and data technology company that provides near real-time data analytics and chemistry solutions to the energy industry.

What do I need to do? If you are a Flotek investor and would like to learn more about this action, CLICK HERE or please contact Berger Montague: Andrew Abramowitz at aabramowitz@bergermontague.com or (215) 875-3015 or Caitlin Adorni at cadorni@bergermontague.com or (267) 764-4865.

What is the Flotek lead plaintiff deadline? The deadline to apply for lead plaintiff appointment is October 26, 2026. This deadline applies only to investors seeking to serve as lead plaintiff. Class members who do not apply may still participate in any recovery without taking action before this date.

About Berger Montague

Berger Montague is one of the nation's preeminent law firms focusing on complex civil litigation, class actions, and mass torts in federal and state courts throughout the United States. With more than $2.4 billion in 2025 post-trial judgments alone, the Firm is a leader in the fields of complex litigation, antitrust, consumer protection, defective products, environmental law, employment law, securities, and whistleblower cases, among many other practice areas. For over 55 years, Berger Montague has played leading roles in precedent-setting cases and has recovered over $50 billion for its clients and the classes they have represented. Berger Montague is headquartered in Philadelphia and has offices in Chicago; Malvern, PA; Minneapolis; San Diego; San Francisco; Toronto, Canada; Washington, D.C., and Wilmington, DE.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/311922

Source: Berger Montague