Bakkt Holdings, Inc.

(BKKT) Alert: Did You Lose Money on Your Bakkt Holdings, Inc. Investment? Contact Johnson Fistel Regarding Investigation

SAN DIEGO, November 22, 2021 /Globe Newswire/ — 

Shareholder Rights Law Firm Johnson Fistel, LLP, is investigating potential claims against Bakkt Holdings, Inc. (“Bakkt” or the “Company”) (NYSE: BKKT) for violations of federal securities laws.

VPC Impact Acquisition Holdings, a publicly traded special purpose acquisition company, announced on October 14, 2021, the shareholders voted to approve its previously announced business combination (the “Business Combination”) with Bakkt Holdings, LLC (“Bakkt”), the digital asset marketplace founded in 2018.

On November 22, 2021, the Bakkt issued an 8-K form which disclosed that “Management of Bakkt Holdings, Inc. (the “Company”) has re-evaluated the application of ASC 480-10-S99-3A to the accounting classification of the Class A ordinary shares, par value $0.0001 (the “Class A Ordinary Shares”) of VPC Acquisition Impact Holdings (“VIH”) prior to the completion of the Merger, which were issued in connection with VIH’s initial public offering (the “IPO”), and has identified errors in the historical financial statements of VIH for the Affected Period related to the Misclassification (the “Misclassification”) of the Class A Ordinary Shares prior to the Merger. Accordingly, the Company has determined that it is appropriate to restate certain of VIH’s condensed consolidated financial statements from the Affected Period. Legacy Bakkt’s historical consolidated financial statements are not affected by the Misclassification, and none of the current management of the Company or its Audit Committee had any role in any of the prior accounting and financial reporting determinations of VIH.”

Following this news, Bakkt’s stock price fell 13.69% on November 22, 2021.

If you have information that could assist in this investigation, or if you are a Bakkt shareholder and are interested in learning more about the investigation, please contact Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.

Additionally, you can [Click here to join this action]. There is no cost or obligation to you.

About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]

[Click here to join this action]

 

  • Plaintiff certifies that:
    • 1. Plaintiff did not acquire the security that is the subject of this action at the direction of plaintiff's counsel or in order to participate in this private action or any other litigation under the federal or state securities laws.
    • 2. Plaintiff is willing to serve as a representative party, including providing testimony at deposition and trial, if necessary.
    • 3. Plaintiff represents and warrants that he/she/it is fully authorized to enter into and execute this certification.
    • 4. If a class action is filed, Plaintiff will not accept any payment for serving as a representative party on behalf of a class beyond the Plaintiff's pro rata share of any recovery, except such reasonable costs and expenses (including lost wages) directly relating to the representation of the class as ordered or approved by the court.
    • 5. For purposes of a class action, Plaintiff has made no transaction(s) during the Class Period in the debt or equity securities that are the subject of this action except those set forth below:
  • Acquisitions (include: date shares were acquired, number of shares acquired, and acquisition price per share. Separate each item with a comma. For multiple acquisitions, separate each acquisition with a new line):
  • Sales (include: date shares were sold, number of shares sold, and selling price per share. Separate each item with a comma. For multiple sales, separate each sale with a new line.):
  • During the three years prior to the date of this certification, Plaintiff has not sought to serve or be served as a representative party for a class in an action filed under the federal securities law except if detailed below:

Click to view Retention Agreement