{"id":836431,"date":"2025-04-10T16:48:27","date_gmt":"2025-04-10T20:48:27","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/bkkt-investors-please-contact-wolf-haldenstein-about-participating-in-the-bakkt-holdings-inc-class-action-2\/"},"modified":"2025-04-10T16:48:27","modified_gmt":"2025-04-10T20:48:27","slug":"bkkt-investors-please-contact-wolf-haldenstein-about-participating-in-the-bakkt-holdings-inc-class-action-2","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/bkkt-investors-please-contact-wolf-haldenstein-about-participating-in-the-bakkt-holdings-inc-class-action-2\/","title":{"rendered":"BKKT Investors Please Contact Wolf Haldenstein About Participating in the Bakkt Holdings, Inc. Class Action"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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Lawsuit Reveals Misleading Statements Regarding Bakkt Business Operations<\/p>\n

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\n NEW YORK<\/span>
\n <\/span>, April 10, 2025<\/span><\/span> \/PRNewswire\/ — Wolf Haldenstein Adler Freeman<\/span> & Herz LLP<\/a>, a distinguished law firm with over 125 years of history, announces that a securities class action lawsuit has been filed on behalf of all persons or entities who purchased or otherwise acquired\u00a0Bakkt Holdings, Inc.<\/b>\u00a0(Bakkt\u00a0or the Company) (NYSE: BKKT) securities between March 25, 2024<\/span> and March 17, 2025<\/span>, inclusive (the Class Period).<\/p>\n

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\n \"(PRNewsfoto\/Wolf
\n <\/a>\n <\/p>\n<\/p><\/div>\n

\n Deadline to sign up:<\/b>\n <\/p>\n

If you are an investor who bought or otherwise acquired Bakkt securities during the Class Period, you have until\u00a0June 2, 2025<\/span>,<\/b>\u00a0to ask the Court to appoint you as Lead Plaintiff for the class.<\/p>\n

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\n PLEASE CLICK HERE TO JOIN THE CASE AND SUBMIT CONTACT INFORMATION<\/a>
\n <\/b>\n <\/p>\n

The filed Complaint alleges<\/span><\/span> that on March 17, 2025<\/span>, after the market close, the Company disclosed that\u00a0Webull Pay LLC\u00a0(“Webull”) was terminating its commercial agreement with the Company, effective June 14<\/span>, 2025.\u00a0The Company revealed that in the prior nine months ended September 30, 2024<\/span>, and the full year ended December 31, 2023<\/span>, Webull made up 74% of Bakkt’s crypto<\/span><\/span> services revenue.\u00a0In that same period, the Company derived 98% of its revenue from crypto<\/span><\/span> services.\u00a0The Company also disclosed that\u00a0Bank of America\u00a0was terminating its loyalty services contract with the Company, effective April 22<\/span>, 2025.\u00a0The Company revealed\u00a0Bank of America\u00a0made up 17% of its loyalty services revenue in the prior nine months ended September 30<\/span>, 2024.\u00a0These customer cancellations will collectively result in a 73% loss in top line revenue.<\/a><\/b><\/p>\n

On this news, the Company’s stock price fell $3.50<\/span> per share, or 27.28%, to close at $9.33<\/span> per share on March 18, 2025<\/span>.<\/p>\n

\n Why\u00a0<\/b>
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\n Wolf Haldenstein Adler Freeman<\/span> & Herz LLP?<\/b><\/a>
\n :<\/b>\n <\/p>\n

This illustrious firm, founded in 1888, is steadfast in their pursuit of justice for investors who have suffered financial harm due to these misrepresented statements.\u00a0The law firm<\/a>\u00a0brings to the fore over 125 years of legal expertise in securities litigation and has a proven track record of protecting the rights of investors.<\/p>\n

We encourage all investors who have been affected or have information that will assist in our investigation, to contact\u00a0Wolf Haldenstein Adler Freeman<\/span> & Herz LLP.<\/a><\/p>\n

\n Contact:<\/b>\n <\/p>\n