FTK Flotek Industries Inc

Gainey McKenna & Egleston announces that a class action lawsuit has been filed in the United States District Court for the Southern District of Texas on behalf of all persons or entities that purchased the securities of Flotek Industries Inc. (NYSE:FTK) between October 23, 2014 through November 9, 2015 (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).

The Complaint alleges that Defendants issued materially false and misleading statements to investors and/or failed to disclose that: (1) the Company’s proprietary software application—FracMax—had data and process errors; (2) 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; (3) a FracMax app from the Company in the Apple iTunes Store does not work; and (4) as a result of the foregoing, the Company’s public statements were materially false and misleading at all relevant times.  When the true details entered the market, the lawsuit claims that investors suffered damages.

If you wish to serve as lead plaintiff, you must move the Court no later than January 11, 2016.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

This may be considered attorney advertising in some jurisdictions and prior results do not guarantee a similar outcome with respect to any future matter. 

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