NEW ORLEANS, Dec. 25, 2015 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until January 11, 2016 to file lead plaintiff applications in a securities class action lawsuit against Flotek Industries Inc. (NYSE:FTK) if they purchased the Company’s securities between October 23, 2014 and November 9, 2015, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of Texas.
What You May Do
If you purchased shares of Flotek and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by January 11, 2016.
About the Lawsuit
Flotek and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
These false statements and omissions included, in part, that: (i) Flotek’s proprietary software application FracMax had data and process errors; (ii) the reported production data from FracMax for three of the wells in the Company’s New York City Investor Presentation on September 11, 2015 were inaccurate; and (iii) an application from Flotek claiming to be FracMax available in the Apple iTunes Store does not work.
On this news, the price of Flotek’s stock plummeted.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.