The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of shareholders who purchased or otherwise acquired Blaize Holdings (“Blaize” or the “Company”) (NASDAQ: BZAI) common stock between July 18, 2025 and April 28, 2026, inclusive (the “Class Period”). Blaize Holdings, Inc. investors have until October 5, 2026 to file a lead plaintiff motion.

What Happened?

On April 28, 2026, Pelican Way Research (“Pelican”) published a report entitled “Blaize AI: Running Up The Share Price Based on a Seemingly Bogus Deal, Conveniently Timed for Massive Dilution” (the “Report”).

In the Report, Pelican announced in part that: We are short Blaize AI because we believe they have artificially boosted their share price by engaging in a bogus deal with a 4-month-old counterparty whose website features “products” that appear to be photoshopped to add the Blaize logo. [. . .] WhoIs data for the NeoTensr website and found that the domain was registered on December 18th, 2025, just a few months before this supposed deal was announced. In review, the timing appears highly suspicious.

On this news, the price of Blaize stock fell by $0.26 per share, or 12.03%, to close at $1.90 on April 28, 2026, thereby injuring investors.

What Is The Lawsuit About?

According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: (1) Blaize announced transactions with entities wholly unequipped to conduct meaningful business in order to create an appearance of growth; (2) Blaize improperly recognized revenue; and (3) as a result, defendants’ public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.