#United States #New York #Class Action #Pomerantz LLP #Bakkt Holdings

Investor Alert: Pomerantz Law Firm Files Class Action Against Bakkt Holdings

Overview

The Pomerantz Law Firm has recently announced that a class action lawsuit has been initiated against Bakkt Holdings, Inc. (NYSE: BKKT). The lawsuit focuses on claims of securities fraud and other violations of business practices allegedly carried out by Bakkt and certain individuals in leadership positions within the company.

Important Deadlines

Investors who have incurred losses due to their investments in Bakkt are urged to take action before the impending deadlines. Specifically, if you have purchased or acquired Bakkt securities within the defined Class Period, you must request the court to appoint you as the Lead Plaintiff by June 2, 2025. Interested parties can reach out to the Pomerantz team at Danielle Peyton via email at [email protected] or by phone at 646-581-9980, toll-free at 888.4-POMLAW, Ext. 7980. It’s recommended that those who choose to inquire via email include relevant personal contact details such as a mailing address and phone number as well as the number of Bakkt shares they purchased.

Background of the Lawsuit

The foundation of the lawsuit stems from significant adverse developments related to Bakkt’s business operations. On March 17, 2025, Bakkt officially disclosed that Webull Pay LLC, a crucial partner, would sever its commercial ties with the company effective June 14, 2025. Bakkt revealed that this partnership was incredibly vital, as Webull contributed a staggering 74% of Bakkt's crypto services revenue within the previous nine months leading up to September 30, 2024, even encompassing 98% of the company's overall revenue generated from crypto services during the full year ending December 31, 2023.

Adding further pressure, Bakkt indicated the termination of its loyalty services agreement with Bank of America effective April 22, 2025. This contract was essential to Bakkt's performance, providing a significant 17% of the loyalty service revenue for the same previous nine-month period. The cumulative impact of these cancellations leads to an alarming projected 73% loss in Bakkt's top-line revenue going forward.

Stock Price Reaction

These shocking revelations have had immediate ramifications on Bakkt’s market performance. As news broke, investors reacted quickly, resulting in a sharp decline in Bakkt's stock price, which plummeted 27.28%, dropping by $3.50 per share to close at $9.33 on March 18, 2025. Such dramatic shifts in the stock price highlight the volatility and risks surrounding Bakkt's current financial landscape and have driven affected investors to explore their options through legal recourse.

About Pomerantz LLP

Pomerantz LLP is a prominent law firm headquartered in New York, with additional offices located in Chicago, Los Angeles, London, Paris, and Tel Aviv. Its reputation as a leader in corporate, securities, and antitrust class litigation is well-established. Founded by Abraham L. Pomerantz—widely regarded as a pioneer in the field of securities class actions—the firm has been committed to advocating for victims of securities fraud, breaches of fiduciary duty, and corporate misconduct for over eight decades. Pomerantz has successfully recovered numerous multimillion-dollar damage awards for class members in similar lawsuits, showcasing the firm’s capability to fight for justice on behalf of its clients. For further information or to download a copy of the complaint related to this class action suit, please visit www.pomerantzlaw.com.

Conclusion

As the situation surrounding Bakkt Holdings continues to evolve, investors are advised to remain alert to the ongoing developments. The opportunity to join the class action group is time-sensitive and emphasizes the need for swift action. Those interested in pursuing claims should not hesitate to reach out and understand their options while working to recover any financial losses incurred during Bakkt's tumultuous business period.