FTK hit by securities class action over PREPA contract backlog
FTK faces a securities-class action alleging misstatements about a PREPA project and related revenue risk. Wolfpack Research asserts the 400 MW PREPA contract was canceled, implying roughly 57% of FTK's backlog could be at risk and helping drive a -20% stock move on Aug 17. The outcome could undermine backlog credibility and weigh on investor sentiment in the near term.
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