Robbins LLP is Investigating Allegations that Blaize Holdings, Inc. (BZAI) Faked Transactions to Create the Appearance of Growth

Robbins LLP reminds investors that a class action was filed on behalf of all persons and entities who purchased or otherwise acquired Blaize Holdings, Inc. (NASDAQ: BZAI) between July 18, 2025 and April 28, 2026 (the "Class Period"). Defendant Blaize describes itself as a “leader in programmable, energy efficient edge AI computing[.]”

Why Was Blaize Holdings Sued?

The complaint alleges that Blaize made materially false or misleading statements regarding its business, operations, and financial condition during the Class Period. Specifically, the lawsuit alleges that the Company failed to disclose that:

(1) Blaize announced transactions with entities wholly unequipped to conduct meaningful business 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.

Why Did Blaize's Stock Drop?

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

The Report alleged that Blaize had “artificially boosted [its] 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.”  The Report focused on Blaize’s recently announced agreement with NeoTensr, which Blaize had announced was expected to generate up to $50 million in revenue. After the publication of this Report, the price of Blaize stock fell by more than 12%, to close at $1.90 on April 28, 2026.

Who May Be Eligible to Participate in the Blaize Holdings?

The lawsuit seeks to represent investors who purchased or otherwise acquired Blaize securities between July 18, 2025 and April 28, 2026. Investors who suffered losses during that period may have legal rights under the federal securities laws. Submit a form for information.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.