December 13, 2016 (Shareholders Foundation) - An investigation on behalf of investors of Flotek Industries Inc (NYSE:FTK) shares over potential securities laws violations by Flotek Industries Inc and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Flotek Industries Inc (NYSE:FTK) concerning whether a series of statements by Flotek Industries Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Flotek Industries Inc reported that its annual Total Revenue declined from $49.16 million in 2014 to $334.36 million in 2015 and that its Net Income of $53.60 million declined to a Net loss of $13.46 million in 2015.

On December 7, 2016, a report was published alleging that studies done by Flotek Industries Inc were based on incomplete data and failed to consider key variables in the oil production process, and that if the Companys primary driver of revenue and profitability, CnF, were repriced to the same level of other generics of its kind, revenues would fall from $60 to $90 million per annum.

Shares of Flotek Industries Inc (NYSE:FTK) declined on December 13, 2016 to as low as $10.12 per share.