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Hub Group, Inc. Investor Alert: Contact SBS by August 28, 2026 for Opportunity to Lead Securities Fraud Lawsuit
Wolfpack Research said the $400 million PREPA contract made up about 57% of Flotek’s backlog before shares fell more than 20%.
Schall, Brown & Schwartz LLP , a national shareholder rights litigation firm, announced on Monday it is investigating claims on behalf of investors of Flotek Industries, Inc. for violations of securities laws.
The inquiry follows a report published by Wolfpack Research on August 17, 2026, alleging Flotek failed to disclose that its $400 million contract with the Puerto Rico Electric Power Authority was canceled.
Wolfpack further alleges a federally appointed financial regulator revoked authorization for the PREPA deal due to an apparent unauthorized signature and referred the matter for criminal prosecution.
Following the report's release, shares of Flotek fell by more than 20% on August 17, 2026, as investors reacted to the canceled contract disclosure.
Investors seeking to discuss their rights or participate in the investigation can contact founding partners Brian Schall, Andrew Brown, or David Schwartz of SBS in Los Angeles, California.