(BLZE) News: Did you lose money on your Backblaze investment? Stock price has fallen since its IPO – Contact Johnson Fistel | 2022-02-18 | Press Releases


San Diego, Calif.–(Newsfile Corp. – Feb. 18, 2022) – Shareholder rights law firm Johnson Fistel, LLP is investigating potential violations of federal securities laws by Backblaze, Inc. (“Backblaze or “the Company”) (NASDAQ: BLZE).

On or about November 11, 2021, Backblaze completed its initial public offering (“IPO”), issuing 6,250,000 shares at a price of $16.00 per share. Then, on February 17, 2022, the company reported a net loss which widened to $0.38 from a net loss per share of $0.18 in the fourth quarter of 2020. Following this news, February 18, 2022 , early in the morning, the stock was trading. at $9.50, 40% below the IPO price.

Specifically, Johnson Fistel’s investigation seeks to determine whether the company’s filings with the U.S. Securities and Exchange Commission in connection with its November 2021 IPO and subsequent communications with investors contained misrepresentation of material facts or omission to state other facts necessary to ensure that the statements made therein are not misleading regarding the business and operations of the Company.

If you have any information that could help with this investigation, including former employees and others, or a Backblaze shareholder interested in learning more about the investigation, please contact Jim Baker ([email protected]) by email or by phone at 619-814-4471. If emailing, please include a phone number.

To join this action, you can go to: https://www.cognitoforms.com/JohnsonFistel/BackblazeWhere [Click here to join this action]. There is no cost or obligation for you.

About Johnson Fistel, LLP:

Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivatives and securities class actions. Johnson Fistel is seeking to recover losses incurred due to violations of federal securities laws. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Lawyer advertisement. Past results do not guarantee future results.

Contact:

Johnson Fistel, LLP

Jim Baker, 619-814-4471

[email protected]

To join this action, you can go to: https://www.cognitoforms.com/JohnsonFistel/BackblazeWhere [Click here to join this action]. There is no cost or obligation for you.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/114216

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