Bakkt (US:BKKT) Prnewswireยท2025-04-15 14:13Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Bakkt Holdings, Inc. due to significant losses suffered by investors following the termination of key contracts, which has led to a substantial decline in revenue and stock price [2][4][5]. Group 1: Legal Investigation and Claims - Faruqi & Faruqi is encouraging investors who suffered losses exceeding $50,000 in Bakkt between March 25, 2024, and March 17, 2025, to discuss their legal options [1]. - A federal securities class action has been filed against Bakkt, with a deadline of June 2, 2025, for investors to seek the role of lead plaintiff [2]. Group 2: Company Performance and Revenue Impact - The complaint alleges that Bakkt and its executives made false or misleading statements regarding the stability and diversity of its crypto services revenue [4]. - Bakkt disclosed that Webull accounted for 74% of its crypto services revenue and that the termination of this contract, along with the loss of Bank of America as a client (which contributed 17% of loyalty services revenue), will result in a 73% loss in top-line revenue going forward [5]. - Following the announcement of these contract terminations, Bakkt's share price fell by $3.50, or 27.3%, closing at $9.33 per share on March 18, 2025 [6].