Flotek Industries, Inc. Shareholders Are Encouraged to Contact Johnson Fistel Regarding Potential Recovery of Investment Losses

SAN DIEGO, Aug. 17, 2026 (GLOBE NEWSWIRE) -- Johnson Fistel, PLLP is investigating whether Flotek Industries, Inc. (NYSE: FTK) or certain of its executive officers violated federal securities laws. The investigation concerns Flotek’s disclosures regarding its announced 10-year agreement associated with a Puerto Rico Electric Power Authority (“PREPA”) power project and its relationship with Power Expectations LLC.

What if I purchased Flotek securities?

If you purchased Flotek securities and suffered investment losses, you may be eligible to participate in the investigation: Click Here to Join the Investigation.

For additional information, contact Jim Baker at jimb@johnsonfistel.com or (619) 814-4471. There is no cost or obligation to you.

Background of the Investigation

On August 3, 2026, Flotek announced a 10-year agreement tied to a PREPA power project that it said could generate approximately $400 million in revenue backlog and approximately $40 million in annual revenue at full deployment. Flotek identified Power Expectations as the leader of the group executing the underlying project.

On August 14, 2026, the Financial Oversight and Management Board for Puerto Rico revoked its approval of the underlying contract between PREPA, Power Expectations LLC, Enchanted Rock LLC, and Reyes Contractor LLC; directed PREPA to terminate the contract; and referred the contract issues to relevant law enforcement authorities. The Oversight Board stated that the procurement was “irreparably impaired” after Enchanted Rock’s parent said the company was not participating and that its name and signature had been used without authorization.

On August 17, 2026, Wolfpack Research issued a short report alleging that these developments effectively canceled Flotek’s associated $400 million opportunity and questioning why Flotek had not informed investors. Flotek’s share price fell approximately 20% that day.

Johnson Fistel is investigating whether Flotek’s statements concerning the agreement, Power Expectations, and the specific risks affecting the underlying PREPA project were materially misleading or omitted material information. Investors who suffered losses, as well as long-term holders of Flotek stock, are encouraged to contact the firm.

About Johnson Fistel, PLLP

Johnson Fistel, PLLP is a nationally recognized shareholder-rights law firm representing individual and institutional investors in securities-fraud and fiduciary-duty litigation.

Attorney advertising. Past results do not guarantee future outcomes. This press release may be considered a promotional communication. The attorney responsible for this communication is Frank J. Johnson.

Contact:
Johnson Fistel, PLLP
James Baker, Investor Relations
(619) 814-4471
jimb@johnsonfistel.com