Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Bakkt Holdings, Inc. due to allegations of misleading statements regarding its revenue sources and client relationships, particularly concerning its dependence on Webull and Bank of America [3][5]. Group 1: Legal Investigation and Claims - The law firm is encouraging investors who suffered losses in Bakkt to contact them 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 [3][8]. - The firm has a history of recovering hundreds of millions of dollars for investors since its founding in 1995 [4]. Group 2: Allegations Against Bakkt - The complaint alleges that Bakkt and its executives violated federal securities laws by making false or misleading statements about the stability and diversity of its crypto services revenue [5]. - It is claimed that Bakkt's crypto services revenue was heavily reliant on a single contract with Webull, which accounted for 74% of its crypto services revenue in the nine months ending September 30, 2024 [6]. - Additionally, Bank of America was responsible for 17% of Bakkt's loyalty services revenue, and both companies are terminating their contracts, leading to a projected 73% loss in top-line revenue [6]. Group 3: Market Reaction - Following the announcement of the contract terminations, Bakkt's share price dropped by $3.50, or 27.3%, closing at $9.33 per share on March 18, 2025, with unusually high trading volume [7].

Core Viewpoint - A class action lawsuit has been filed against Bakkt Holdings, Inc. for allegedly misleading investors about the stability and diversity of its crypto services revenue, particularly its reliance on a single contract with Webull [1][2]. Group 1: Allegations and Financial Impact - The complaint alleges that Bakkt misrepresented the stability and diversity of its crypto services revenue and failed to disclose its substantial dependence on a single contract with Webull [2]. - Bakkt disclosed that Webull accounted for 74% of its crypto services revenue for the nine months ending September 30, 2024, and that 98% of its total revenue came from crypto services during the same period [3]. - Following the announcement of Webull's termination of their commercial agreement, Bakkt is expected to face a 73% loss in top-line revenue, leading to a significant drop in share price by $3.50 or 27.3% to close at $9.33 per share on March 18, 2025 [3]. Group 2: Legal Proceedings and Participation - Shareholders are encouraged to participate in the class action against Bakkt Holdings, with options to serve as lead plaintiff or remain an absent class member [4]. - Robbins LLP operates on a contingency fee basis, meaning shareholders will incur no fees or expenses for representation [5].

Core Viewpoint - A class action lawsuit has been filed against Bakkt Holdings, Inc. concerning allegations of securities fraud and unlawful business practices [2][4]. Group 1: Lawsuit Details - Investors are encouraged to contact Pomerantz LLP for participation in the class action, with a deadline to apply as Lead Plaintiff by June 2, 2025 [2][3]. - The lawsuit pertains to Bakkt and its officers/directors' potential engagement in securities fraud [2]. Group 2: Revenue Impact - Bakkt disclosed that Webull Pay LLC will terminate its commercial agreement, which accounted for 74% of Bakkt's crypto services revenue in the nine months ending September 30, 2024 [4]. - The company derived 98% of its total revenue from crypto services during the same period [4]. - Additionally, Bank of America is terminating its loyalty services contract, which represented 17% of Bakkt's loyalty services revenue [4]. - These cancellations are projected to result in a 73% loss in top line revenue going forward [4]. Group 3: Stock Market Reaction - Following the announcement of these cancellations, Bakkt's stock price fell by $3.50 per share, a decrease of 27.28%, closing at $9.33 per share on March 18, 2025 [5].

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Bakkt Holdings, Inc. due to allegations of misleading statements regarding its revenue sources and client relationships, particularly following the termination of key contracts that significantly impact its financial outlook [2][4]. Group 1: Legal Investigation and Class Action - Faruqi & Faruqi is encouraging investors who suffered losses in Bakkt to discuss their legal options, with a deadline of June 2, 2025, to seek the role of lead plaintiff in a federal securities class action [1][2]. - The firm has a history of recovering hundreds of millions of dollars for investors since its founding in 1995 [3]. Group 2: Allegations Against Bakkt - The complaint alleges that Bakkt misrepresented the stability and diversity of its crypto services revenue, which was heavily reliant on a single contract with Webull [4]. - Bakkt disclosed that Webull accounted for 74% of its crypto services revenue and that 98% of its total revenue was derived from crypto services during the nine months ending September 30, 2024 [5]. - Additionally, Bank of America, which contributed 17% of Bakkt's loyalty services revenue, is also terminating its contract, leading to a projected 73% loss in top-line revenue [5]. Group 3: Market Reaction - Following the announcement of the contract terminations, Bakkt's share price fell by $3.50, or 27.3%, closing at $9.33 per share on March 18, 2025, with unusually high trading volume [6].