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The filed complaint alleges that Backblaze, Inc. made materially false and/or misleading statements and/or failed to disclose that: Investing.com issued an article on April 24, 2025, entitled, "Backblaze stock plunges amid Morpheus Research report." This article stated that Backblaze "saw its shares plummet" due to a "scathing short report from Morpheus Research. The report detailed a series of alleged financial missteps and questionable practices since the company's initial public offering (IPO) in November 2021." The article also noted that Morpheus's report "highlights questionable accounting practices, including financial manipulations and inflated forecasts to pass audit thresholds." Following this news, Backblaze stock fell during intraday trading on the same day.
In order to be eligible to join the BLZE class action lawsuit, you must have incurred a loss on shares of Backblaze, Inc. purchased during the class period listed above.
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