Bakkt Holdings Inc Securities Lawsuit Investigation

Shamis & Gentile P.A., one of the nation's premier class action law firms specializing in securities fraud cases, is investigating potential claims against Bakkt Holdings Inc (BKKT).

If you purchased or held Bakkt Holdings Inc securities between March 25, 2024 and March 17, 2025, you may be eligible to join this class action lawsuit and seek compensation for your losses.

About Bakkt Holdings Inc

Bakkt Holdings Inc (NYSE: BKKT), founded in 2018, specializes in building crypto technology solutions aimed at helping businesses participate in the crypto economy. Bakkt’s offerings include institutional-grade custody, trading, and onramp capabilities, which can be accessed via SaaS or API integrations.

Headquartered in Alpharetta, Georgia, Bakkt employs over 350 people according to its LinkedIn profile. The company’s business model has focused on enabling other companies to provide crypto services to their customers, rather than targeting consumers directly.

The Allegations

The securities class action lawsuit alleges that Bakkt Holdings Inc and certain executives misled investors about the stability and diversity of the company’s crypto services revenue. Bakkt allegedly failed to disclose that a substantial portion of its crypto services revenue, up to 74%, was dependent on a single contract with Webull. In fact, for the year ended December 31, 2023, crypto services made up 93.2% of Bakkt’s total revenue, with Webull accounting for the vast majority of that segment.

Additionally, there are claims Bakkt misrepresented its ability to maintain key client relationships, specifically with Webull and Bank of America. On March 17, 2025, after the market closed, Bakkt revealed that both Webull and Bank of America were terminating their commercial agreements. The loss of these two major clients was projected to result in a 73% drop in Bakkt’s top-line revenue.

Following this disclosure, Bakkt’s stock price dropped sharply by 27.3% on March 18, 2025, closing at $9.33 per share on unusually heavy trading volume. The suit alleges that throughout the class period, the company’s positive statements about its business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Important Dates

• Class period: March 25, 2024 to March 17, 2025
• Lead plaintiff deadline: June 02, 2025
• Complaint filed: April 02, 2025

Your Rights and Next Steps

If you purchased or acquired Bakkt Holdings Inc securities during the class period, you have important legal rights. Investors who suffered losses may be eligible to participate as a member of the class action lawsuit. If you wish to be actively involved in the case, you can seek to be appointed as lead plaintiff, but you must file your motion with the court by June 2, 2025.

It is not necessary to take any action at this time to remain a potential class member. However, by acting before the deadline, you may have the opportunity to influence the direction of the case or maximize your potential recovery. Lawyers are ready to help answer your questions and guide you through the process.

You May Be Entitled to Compensation

If you invested in Bakkt Holdings Inc during the class period and experienced financial losses, you may be entitled to compensation through this class action lawsuit. Lawyers are ready to help you understand your rights and options. To get started, complete the below form to join the lawsuit and take the next step toward seeking recovery for your losses.