NYSE
FTK

Flotek Industries, Inc.

Shareholder Securities Fraud Litigation

Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against Flotek Industries, Inc. (NYSE: FTK)

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.

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.

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