Floats may just be stuck, although they typically stick in the down (open) position, but they can also get stuck, for whatever reason, at the top of their travel. Try tapping on the float bowls with a screwdriver handle. If that doesn't do it, then pull the bowls off to see if fuel will come out at all when the valves are open.
What bike is this? On my 750 it's possible to install the bowl gaskets incorrectly so that they interfere with the movement of the floats.