On or around 08/23/2017 (Other)
Filing Date: November 12, 2015
According to the law firm press release, the Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose the following: (1) the data used in the Company’s comparison of wells using and not using CnF was misreported; (2) the Company’s FracMax application did not perform as claimed; (3) the Company lacked adequate internal controls; and (4) as a result of the foregoing, the Company’s statements about its business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
Plaintiffs filed a consolidated complaint on March 28, 2016.
On March 29, 2017, the Court granted Defendants' Motion to Dismiss with prejudice. A Notice of Appeal of this decision was filed on April 27.
Company & Securities Information
Defendant: Flotek Industries, Inc.
Industry: Oil Well Services & Equipment
Headquarters: United States
Ticker Symbol: FTK
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Caleb Ho, et al. v. Flotek Industries, Inc., et al.