#USA #New York #Class Action #Pomerantz LLP #Bakkt Holdings

Investor Alert: Class Action Lawsuit Against Bakkt Holdings Inc.

On May 20, 2025, the Pomerantz Law Firm announced that a class action lawsuit has been filed against Bakkt Holdings, Inc. (NYSE: BKKT). This legal action comes in response to alleged securities fraud and other unlawful business practices that may have impacted the company's investors.

The lawsuit is particularly relevant for shareholders who have faced financial losses related to their investments in Bakkt. Investors are encouraged to reach out to Danielle Peyton at the Pomerantz Law Firm for assistance. Those interested can contact her via email at [email protected] or call 646-581-9980, or toll-free at 888.4-POMLAW (Ext. 7980) for more information. It’s advised that inquiring individuals include their mailing address and number of shares purchased for a streamlined process.

Important Deadlines

Class action participants have until June 2, 2025, to file a motion with the Court to be appointed as Lead Plaintiff. The filing period covers those who acquired Bakkt securities during the specified Class Period. Detailed information regarding the Complaint can be accessed at Pomerantz Law Firm's website.

Background of the Lawsuit

The lawsuit was precipitated by a significant announcement from Bakkt on March 17, 2025, when the company revealed that Webull Pay LLC, a significant partner, would be terminating its commercial agreement effective June 14, 2025. This decision is alarming as Webull constituted 74% of Bakkt’s crypto services revenue in the preceding months leading up to September 30, 2024. Furthermore, Bakkt disclosed that its overall revenue from crypto services stood at an alarming 98% during that same period.

In addition to the loss of Webull, Bakkt also indicated that Bank of America would be ending its loyalty services contract with the company effective April 22, 2025, which contributed another 17% to Bakkt’s loyalty services revenue. The collective effect of these cancellations is a daunting projection of a 73% loss in the company's top-line revenue.

In the wake of these announcements, Bakkt’s stock suffered a significant drop, plummeting by $3.50 per share or approximately 27.28% to close at $9.33 on March 18, 2025. This shocking decrease reflects the market's immediate reaction to the dire financial forecasts associated with the termination of key contracts.

Pomerantz Law Firm's Role

Pomerantz LLP is recognized as a leader in corporate, securities, and antitrust litigation. Founded by the late Abraham L. Pomerantz, a pioneer in the field of class action lawsuits, the firm has dedicated over 85 years to advocating for victims of securities fraud and corporate misconduct. Their history of securing multimillion-dollar judgments on behalf of class members reinforces their reputation in the legal domain.

For individuals affected by these developments regarding Bakkt Holdings, participating in this class action may provide a pathway to recover some of their financial losses. Legal recourse through a structured class action can be a critical avenue for investors seeking justice and restitution.

For more information about how to proceed or to join the class action, it is essential to act promptly before the approaching deadlines, ensuring that investors can assert their rights and potentially reclaim their investments that have been jeopardized by these recent developments.

Conclusion

The ongoing situation with Bakkt Holdings is a stark reminder of the risks associated with investing in volatile markets, particularly in sectors such as cryptocurrency. For affected investors, the Pomerantz Law Firm is a resource for taking actionable steps to seek justice and accountability.

Contact Information
Danielle Peyton
Pomerantz LLP
Email: [email protected]
Phone: 646-581-9980 (Ext. 7980)