Bakkt (US:BKKT) GlobeNewswire News Roomยท2025-04-07 16:05Core Viewpoint - A class action lawsuit has been initiated against Bakkt Holdings, Inc. on behalf of investors who suffered losses during the specified Class Period from March 25, 2024, to March 17, 2025, due to alleged misleading statements and failure to disclose critical information about the company's business operations and revenue sources [1][2]. Summary by Relevant Sections Lawsuit Details - The lawsuit aims to recover losses for investors who acquired Bakkt securities during the Class Period [1]. - Investors wishing to act as lead plaintiffs must file a motion by June 2, 2025 [1]. Allegations Against Bakkt Holdings - The Complaint claims that Bakkt's management made materially false and misleading statements regarding the stability and diversity of its crypto services revenue [2]. - It is alleged that Bakkt's crypto services revenue was heavily reliant on a single contract with Webull, which was not disclosed [2]. - The Complaint also states that Bakkt misrepresented its ability to maintain key client relationships, leading to misleading positive statements about the company's prospects [2]. Johnson Fistel, PLLP Overview - Johnson Fistel, PLLP is a recognized law firm specializing in shareholder rights and securities class action lawsuits, with offices across multiple states [3]. - The firm has a history of representing both individual and institutional investors, including foreign investors in U.S. exchanges [3]. Achievements of Johnson Fistel, PLLP - In 2024, Johnson Fistel was ranked among the Top 10 Plaintiff Law Firms by ISS Securities Class Action Services, having recovered approximately $90.725 million for clients in cases where they served as lead or co-lead counsel [4]. - This recognition highlights the firm's effectiveness in advocating for investors and marks the eighth time it has been acknowledged as a top plaintiffs' securities law firm in the U.S. [4].