Johnson Fistel, PLLP Files New Securities Class Action Lawsuit on Behalf of Blaize Holdings, Inc. Investors, Expanding the Class Period and Claims Asserted

SAN DIEGO, Sept. 17, 2026 (GLOBE NEWSWIRE) -- Johnson Fistel, PLLP, a shareholder rights law firm, announces that it has filed a securities class Action lawsuit (the “Class Action ”) in the United States District Court for the Central District of California against Blaize Holdings, Inc. (NASDAQ: BZAI), certain of its officers and directors, and the underwriters of the Company’s May 2026 public offering. The Class Action expands the allegations, class period, and claims asserted in a previously filed Action against Blaize and certain of its officers.

The Class Action asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and SEC Rule 10b-5 on behalf of all persons and entities that purchased or otherwise acquired Blaize common stock between July 17, 2025 and August 13, 2026, inclusive (the “Class Period”). Separately, the Class Action asserts claims under Sections 11, 12(a)(2), and 15 of the Securities Act of 1933 on behalf of all persons and entities that purchased or otherwise acquired Blaize common stock pursuant or traceable to the offering materials issued in connection with the Company’s May 2026 public offering. The Class Action is captioned Alyahya v. Blaize Holdings, Inc., et al., Case No. 2:26-cv-10609 (C.D. Cal.).

HOW TO JOIN:

If you purchased or otherwise acquired Blaize common stock between July 17, 2025 and August 13, 2026, inclusive, or purchased Blaize common stock pursuant or traceable to the May 2026 offering, you may be able to seek appointment as lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. An Investor ’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

If you would like to discuss a potential lead plaintiff appointment, or your rights and interests with respect to the lawsuit, you may contact Johnson Fistel at the following web address: https://www.johnsonfistel.com/investigations/blaize-holdings or contact Jim Baker at jimb@johnsonfistel.com or (619) 814-4471. If emailing, please include a phone number. There is no cost or obligation to you.

Pursuant to the notice published in connection with the earlier filed Action , investors wishing to serve as lead plaintiff are required to file a motion for appointment as lead plaintiff no later than October 5, 2026.

CASE ALLEGATIONS:

The Class Action alleges that, during the Class Period, Blaize and certain of its Senior executives made materially false and misleading statements concerning the company’s agreements with Starshine Computing Power Technology Limited and NeoTensr, and the extent to which those agreements supported Blaize’s revenue projections.

Specifically, at the start of the Class Period, Blaize represented that its newly announced Starshine Agreement had a minimum value of $120 million in revenue and announced 2026 revenue guidance of at least $130 million. Blaize later announced a newly awarded contract with NeoTensr that was “expected to generate $50.0 million in revenue.” The Class Action alleges that these statements were materially false and/or misleading because, among other things, there was substantial uncertainty whether Starshine had the resources and operational capacity to fully perform under the Starshine Agreement and whether NeoTensr had the resources and operational capacity to issue purchase orders sufficient to generate the anticipated $50 million in first-year revenue.

On April 28, 2026, Pelican Way Research published a report raising questions concerning Blaize’s agreements with NeoTensr and Starshine, including the counterparties’ operations and resources. Following publication of the report, Blaize’s stock price fell 12%, from $2.16 per share on April 27, 2026 to $1.90 per share on April 28, 2026.

The Class Action further alleges that the offering materials issued in connection with Blaize’s May 2026 public offering contained materially inaccurate statements and omissions concerning the company’s receivables, the Starshine and NeoTensr agreements, and whether Blaize had secured the inventory needed for the anticipated NeoTensr delivery. In the offering, Blaize sold 18,918,918 shares of common stock at $1.85 per share.

Then, on August 13, 2026, Blaize reduced its full-year 2026 revenue outlook from $130 million to a range of $40 million to $43 million, stating that the revised outlook reflected, among other things, “engagements that did not convert into orders.” Blaize also disclosed that Starshine’s $8.8 million receivable remained outstanding, that there was “substantial risk” its collection efforts would not succeed, and that Blaize still had not received any purchase orders from Starshine in 2026 and did not expect further purchase orders from Starshine. Following these disclosures, Blaize’s stock price fell nearly 50%, from $1.17 per share on August 13, 2026 to $0.59 per share on August 14, 2026.

About Johnson Fistel, PLLP | Top Law Firm – Securities Fraud & Investor Rights
Johnson Fistel, PLLP is a nationally recognized shareholder-rights law firm with offices in California, New York, Georgia, Idaho, and Colorado. The firm represents individual and institutional investors in litigation involving securities fraud, breaches of fiduciary duty, and other violations of state and federal law.

Johnson Fistel has been recognized as one of the Top 10 Plaintiff Law Firms by ISS Securities Class Action Services. In 2024, the firm recovered approximately $90,725,000 for investors.

Attorney advertising. Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices. This press release may be considered a promotional communication. The attorney responsible for this communication is Frank J. Johnson.

Contact:
Johnson Fistel, PLLP
501 W. Broadway, Suite 800
San Diego, CA 92101
James Baker, Investor Relations
(619) 814-4471
jimb@johnsonfistel.com