Deadline in Lawsuit for Investors in Flotek Industries Inc (NYSE:FTK) Shares Announced by Shareholders Foundation
November 16 2015 - 11:25AM
The Shareholders Foundation, Inc. announces that a lawsuit was
filed in Texas on behalf of certain purchasers of shares of Flotek
Industries Inc (NYSE:FTK) over alleged Violations of Federal
Securities Laws by Flotek Industries Inc.
Investors who purchased shares of Flotek Industries Inc
(NYSE:FTK) have certain options and for certain investors are short
and strict deadlines running. Deadline: January 11, 2016. NYSE:FTK
investors should contact the Shareholders Foundation at
mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff claims that defendants issued certain allegedly
materially false and misleading statements to investors and/or
failed to disclose that Flotek Industries’ proprietary software
application—FracMax—had data and process errors, that the reported
production data from FracMax for three of the wells in the
Company’s New York City Investor Presentation on September 11, 2015
were inaccurate, that an application from the Company claiming to
be FracMax available in the Apple iTunes Store does not work, and
that as a result of the foregoing, the Company’s public statements
were materially false and misleading at all relevant times.
On November 9, 2015, a report was published questioning the
validity of the Flotek Industries’ FracMax analysis and alleging
that Flotek Industries used false data when speaking to investors
during its February 2, 2015 Investor Day presentation by comparing
wells using the Company's products with those that do not. Shares
of Flotek Industries Inc (NYSE:FTK) declined to as low as $8.12 per
share on November 11, 2015.
Those who purchased Flotek Industries Inc (NYSE:FTK) shares have
certain options and should contact the Shareholders Foundation,
Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858)
779-1554.
The Shareholders Foundation, Inc. is a professional portfolio
legal monitoring and a settlement claim filing service, which does
research related to shareholder issues and informs investors of
securities class actions, settlements, judgments, and other legal
related news to the stock/financial market. The Shareholders
Foundation, Inc. is not a law firm. The information is provided as
a public service. It is not intended as legal advice and should not
be relied upon.
CONTACT: Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
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