San Diego, CA -- (SBWIRE) -- 05/04/2022 -- Certain directors of Backblaze, Inc. are under investigation over potential breaches of fiduciary duties.

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

About The Shareholders Foundation
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.