Flotek Industries faces a securities class action over allegations that it misled investors about a 10-year, 400-megawatt natural gas-fired power project for the Puerto Rico Electric Power Authority, or PREPA. Flotek announced the agreement on Aug. 3, 2026, saying it would generate approximately $400 million in revenue backlog, or about 57% of its backlog. Wolfpack Research reported on Aug. 17 that the contract had been canceled, after which Flotek’s stock fell $7.17, or 20.01%, to close at $28.66. The stock continued to decline over the next two trading days as Flotek revealed that PREPA had terminated the power purchase and operating agreement, effective immediately. Robbins LLP filed the lawsuit on behalf of investors who purchased or otherwise acquired Flotek securities from Aug. 3 through Aug. 17 and said investors seeking lead-plaintiff status must act by Oct. 26, 2026.