SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against Flotek Ind...
November 19 2015 - 5:08PM
Business Wire
Rigrodsky & Long, P.A.:
- Do you, or did you, own shares of
Flotek Industries, Inc. (NYSE: FTK)?
- Did you purchase your shares between
October 23, 2014 and November 9, 2015, inclusive?
- Did you lose money in your
investment?
Rigrodsky & Long, P.A. announces that a complaint 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
common stock of Flotek Industries, Inc. (“Flotek” or the “Company”)
(NYSE: FTK) between October 23, 2014 and November 9, 2015,
inclusive (the “Class Period”), alleging violations of the
Securities Exchange Act of 1934 against the Company and certain of
its officers (the “Complaint”).
If you purchased shares of Flotek during the Class Period, or
purchased shares prior to the Class Period and still hold Flotek, and wish to discuss this
action or have any questions concerning this notice or your rights
or interests, please contact Timothy J. MacFall, Esquire or Peter
Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite
120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to
info@rl-legal.com; or at:
http://rigrodskylong.com/investigations/flotek-industries-inc-ftk-lawsuit.
The Complaint alleges that throughout the Class Period,
defendants made materially false and misleading statements, and
omitted materially adverse facts, about the Company’s business,
operations and prospects. As a result of defendants’ alleged false
and misleading statements, the Company’s stock traded at
artificially inflated prices during the Class Period.
According to the Complaint, on November 9, 2015, Australian
analyst firm Bronte Capital published a report asserting among
other things, that: (1) the production data of Targac 1H, Gillespie
1H and Berger Unit 1H set forth in the Company’s September 11th
investor presentation did not match the data from the Texas
Railroad Commission; and (2) a version of FracMax available in the
Apple iTunes Store does not work.
On this news, shares in Flotek dropped over 38%, closing at
$9.04 per share on November 10, 2015, on heavy trading volume.
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. Any member of the proposed class may move
the court to serve as lead plaintiff through counsel of their
choice, or may choose to do nothing and remain an absent class
member.
Attorney advertising. Prior results do not guarantee a similar
outcome.
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version on businesswire.com: http://www.businesswire.com/news/home/20151119006748/en/
Rigrodsky & Long, P.A.Timothy J. MacFall, EsquirePeter
Allocco(888) 969-4242(516) 683-3516Fax: (302)
654-7530info@rl-legal.comhttp://www.rigrodskylong.com
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