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BKKT Investors Have Opportunity to Lead Bakkt Holdings, Inc. Securities Fraud Lawsuit

Investors filed a class action lawsuit against Bakkt Holdings in New York, claiming violations of securities laws.
The lawsuit alleges Bakkt misled investors by misrepresenting its financial stability and key client relationships.
Bakkt's revenue heavily depended on Webull and Bank of America, whose contracts are expiring soon.
Webull accounted for 74% of Bakkt's crypto revenue, and Bank of America provided 16% of loyalty revenue.
Bakkt's share price dropped significantly, and the company delayed its 2024 annual report filing, increasing investor concerns.

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BKKT Investors Have Opportunity to Lead Bakkt Holdings, Inc. Securities Fraud Lawsuit

NEW YORK, April 4, 2025 /PRNewswire/ -

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Bakkt Hit With Class-Action Lawsuit Over Webull And Bank Of America Deals - FinanceFeeds

Cryptocurrency custody and trading platform Bakkt Holdings is facing a class-action lawsuit filed by a group of investors who claim the firm misled shareholders by failing to disclose the full extent of its financial dependence on two major clients: Webull and Bank of America. Filed in the U.S. District Court for the Southern District of New York, the complaint seeks a jury trial and names several top Bakkt executives, including former CEO Gavin…

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CoinStats - Bakkt investors file class-action lawsuit af...

The lawsuit against Bakkt alleged investor losses in part due to the company misrepresentating "revenue was substantially dependent on a single contract with Webull." A group of investors with cryptocurrency custody and trading firm Bakkt Holdings filed a class-action lawsuit alleging false or misleading statements and a failure to disclose certain information.Lead plaintiff Guy Serge A. Franklin called for a jury trial as part of a complaint ag…

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