- Flotek Industries, Inc. (NYSE: FTK) shareholders should email fletcher@fmoorelaw.com
NEW YORK, Oct. 20, 2026 /PRNewswire/ —
What is the Investigation About?
On August 17, 2026, Wolfpack Research published a report alleging that Flotek’s $400 million contract related to a Puerto Rico Electric Power Authority power generation project had been canceled. Flotek had previously stated that its 10-year agreement was expected to generate approximately $400 million in revenue backlog.
Following this news, the price of Flotek stock fell $7.17 per share, or 20.01%, to close at $28.66 per share on August 17, 2026.
On August 18, 2026, Flotek disclosed that Puerto Rico’s Financial Oversight and Management Board had revoked approval of the power generation contract, directed the Puerto Rico Electric Power Authority to terminate it, and referred contract issues to law enforcement authorities. Flotek stock fell another $1.64 per share, or 5.72%, to close at $27.02 per share that day.
On August 19, 2026, Flotek confirmed that the Puerto Rico Electric Power Authority had delivered formal notice terminating the Power Purchase and Operating Agreement, effective immediately. Following this disclosure, Flotek stock fell $1.85 per share, or 6.85%, to close at $25.17 per share that day.
If you own Flotek Industries, Inc. (NYSE: FTK) securities, please contact Fletcher Moore at fletcher@fmoorelaw.com.
You may be able to seek monetary damages, corporate governance reforms, reimbursement to the company, and a court approved incentive award at no cost to you whatsoever. All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
MOORE LAW PLLC
30 Wall Street, 8th Floor
New York, NY 10005
fletcher@fmoorelaw.com
www.fmoorelaw.com
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SOURCE Moore Law PLLC
