The allegations center on a deal with NeoTensr, a partnership Blaize projected would generate $50 million in revenue. Short-sellers claim the agreement is fraudulent, suggesting the counterparty is a shell entity with photoshopped product images. A second report soon followed, explicitly labeling Blaize a fraud and questioning the legitimacy of previous customer contracts, which triggered a sharp decline in the company’s stock price.

Johnson Fistel is now reviewing whether these practices misled investors and constituted a breach of securities regulations. The firm, which recovered over $90 million for clients in 2024, is currently seeking contact from shareholders who suffered financial losses following the stock's slump. Interested parties can reach out to investigator Jim Baker at (619) 814-4471 or via email to discuss potential legal recourse.