Newsfile Corp
10 Sept 2026, 01:22 UTC · 1d ago
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What the story claims
3 claims · each scored for market impact
Flotek Industries' 10-year power generation contract with the Puerto Rico Electric Power Authority (PREPA) has been terminated. — The contract represented approximately 57% of the company's total backlog, indicating a massive loss of future projected revenue.
-0.90A federal securities class action lawsuit has been filed against Flotek Industries alleging that executives made misleading statements regarding the viability of the PREPA project. — Legal proceedings for securities fraud create significant liability risks and undermine investor confidence in management's transparency.
-0.50Wolfpack Research published a report alleging the cancellation of the $400 million PREPA contract, which triggered an immediate 20% stock price drop. — The involvement of a short-seller report suggests continued scrutiny and potential for further negative revelations.
-0.30Which stocks this story touches
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The company is facing a securities class action lawsuit following the termination of a major contract representing 57% of its backlog.
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GlobeNewsWire
12h ago
