Kirby McInerney LLP Advises Flotek Industries Inc. Investors of Potential Claims
November 13 2015 - 12:29PM
Business Wire
The law firm of Kirby McInerney LLP announced today that a class
action lawsuit has been filed in the United States District Court
for the Southern District of Texas against Flotek Industries Inc.
("Flotek" or the "Company") (NYSE:FTK) on behalf of all persons or
entities who acquired Flotek securities during the period from
October 23, 2014 through November 9, 2015 (the "Class Period").
Pursuant to applicable law, investors have until January 11, 2016
to file a motion to be appointed as lead plaintiff in the investor
lawsuit.
The lawsuit alleges that throughout the Class Period, the
Company issued materially false and misleading statements to
investors regarding its proprietary software application FracMax.
On November 9, 2015, an analyst firm published a report stating
that the information released in a Company presentation on
September 11, 2015 was inaccurate and that an available version of
FracMax did not work. On this news, Flotek’s stock price declined
from $18.10 to $14.60 per share. On November 10, 2015, the Company
issued a press release admitting some of its errors. In reaction,
the stock price declined further to $9.04 per share.
If you acquired Flotek securities during the Class Period and
you are interested in learning more about this matter and any
rights you might have with respect to these claims, contact Rona Li
at securitiescases@kmllp.com, or by telephone at (212) 371-6600.
Please bear in mind that some of these rights may be
time-sensitive.
Kirby McInerney LLP is a New York-based plaintiffs' law firm
concentrating in securities, whistleblower, antitrust and consumer
litigation. The firm has specialized in complex litigation,
including securities class actions, for several decades. Kirby
McInerney LLP has repeatedly demonstrated its expertise in this
field, and has been recognized by various courts that have
appointed the firm to major positions in consolidated and
multi-district litigation. The firm's efforts on behalf of
shareholders in securities litigation have resulted in recoveries
totaling billions of dollars, and the firm's achievements and
quality of service have been chronicled in numerous published
decisions. Additional information about the firm or the claims
against Shiloh Industries, Inc. can be found at Kirby McInerney
LLP's website: http://www.kmllp.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20151113005671/en/
Kirby McInerney LLPRona Li,
212-371-6600securitiescases@kmllp.com
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