Press release
Investigation announced for Investors in Backblaze, Inc. (NASDAQ: BLZE) over potential Wrongdoing
An investigation on behalf of investors in Backblaze, Inc. (NASDAQ: BLZE) shares over potential wrongdoing at Backblaze, Inc.
Investors who purchased shares of Backblaze, Inc. (NASDAQ: BLZE) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Backblaze, Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.
San Mateo, CA based Backblaze, Inc., a storage cloud platform, provides businesses and consumers with solutions to store, use, and protect the data worldwide. Backblaze, Inc. reported that its annual Total Revenue rose from $40.74 million in 2019 to $53.78 million in 2020, and that its Net Loss increased from $0.99 million in 2019 to $6.62 million in 2020.
On or around November 11, 2021, Backblaze, Inc. conducted its initial public offering ("IPO"), issuing 6,250,000 shares priced at $16.00 per share. Then, on February 17, 2022, Backblaze, Inc.reported a net loss that widened to $0.38 compared to a net loss per share of $0.18 in Q4 2020
Shares of Backblaze, Inc. (NASDAQ: BLZE) declined to as low as $8.75 per share on February 18, 2022.
Those who purchased shares of Backblaze, Inc. (NASDAQ: BLZE) have certain options and should contact the Shareholders Foundation.
Contact:
Christopher Clausen
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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