San Diego, CA -- (SBWIRE) -- 03/04/2022 -- Backblaze, Inc. is under investigation over potential securities laws violations in connection with certain financial statements.

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 focuses on whether a series of statements by Backblaze, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

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:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, 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, investigation, and/or settlements are not filed/reached and/or 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.