Shareholder Investigation of FTS International
FTS International, Inc. (FTSI) Accused of Filing False Registration Statements
According to the complaint against the company for alleged violations of the Securities Act of 1933 pursuant to the company’s February 5, 2018 initial public offering (“IPO”), FTS International, Inc. (FTSI) claimed to be in the midst of an extraordinary market turnaround following a significant decline in oil and natural gas prices from 2014 to 2016. FTS further asserted that demand trends, its pricing power, and revenue growth would continue into 2018. However, FTS failed to disclose that its fortunes and demand for its services were actually decreasing, as previously idled competitors flooded the market. The complaint further alleges that FTS had temporarily inflated its total revenues leading up to the IPO by increasing revenues for services rendered to related parties by more than 3,650% as compared to 2016, and creating the false implication that this revenue increase was a long-term trend. Since the IPO, the price of FTS stock has continued to decline precipitously. By March 8, 2019, FTS stock had fallen to $8.70 per share, more than 50% below the IPO price.
FTS International, Inc. (FTSI) Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can please send us a message via the Shareholder Information form below.