INVESTOR ALERT: GPM Files Securities Class Action Lawsuit Against Flotek Industries, Inc.
November 18 2015 - 5:04PM
Business Wire
Glancy Prongay & Murray LLP (“GPM”) announces that it has
filed a class action lawsuit in the United States District Court
for the Southern District of Texas on behalf of a class (the
“Class”) of purchasers of the securities of Flotek Industries,
Inc. (“Flotek” or the “Company”) (NYSE: FTK) between October 23,
2014 and November 9, 2015, inclusive (the “Class Period”).
Please contact Lesley Portnoy at 888-773-9224 or 310-201-9150,
or at shareholders@glancylaw.com to discuss this matter. If you
inquire by email, please include your mailing address, telephone
number, and number of shares purchased.
Flotek is a global developer and distributor of a portfolio of
oilfield technologies, including specialty chemicals, down-hole
drilling and production equipment. It serves major and independent
companies in the domestic and international oilfield service
industry.
The Complaint alleges that throughout the Class Period,
Defendants made false and/or misleading statements and/or failed to
disclose the following: (1) the data used in the Company’s
comparison of wells using and not using CnF was misreported; (2)
the Company’s FracMax application did not perform as claimed; (3)
the Company lacked adequate internal controls; and (4) as a result
of the foregoing, the Company’s statements about its business,
operations, and prospects, were false and misleading and/or lacked
a reasonable basis.
If you are a member of the Class described above, you may move
the Court no later than January 11, 2016 to serve as lead
plaintiff, if you meet certain legal requirements. To be a member
of the Class you need not take any action at this time; you may
retain counsel of your choice or take no action and remain an
absent member of the Class. If you wish to learn
more about this action, or if you have any questions
concerning this announcement or your rights or interests with
respect to these matters, please contact Lesley Portnoy,
Esquire, of Glancy Prongay & Murray LLP, 1925 Century Park
East, Suite 2100, Los Angeles, California 90067, at (310) 201-9150,
by e-mail to shareholders@glancylaw.com, or visit our website
at http://www.glancylaw.com. If you inquire by email, please
include your mailing address, telephone number and number of shares
purchased.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20151118006704/en/
Glancy Prongay & Murray LLP, Los AngelesLesley Portnoy,
310-201-9150 or
888-773-9224shareholders@glancylaw.comwww.glancylaw.com
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