Overview

A class action lawsuit has been filed against Bakkt Holdings, Inc. (“Bakkt” or the “Company”) and certain of the Company’s current and former senior executive officers alleging violations of the federal securities laws.  The Company’s common shares trade on the New York Stock Exchange under the symbol “BKKT.”

The Bakkt class action lawsuit was brought on behalf of all persons and entities who purchased or otherwise acquired Bakkt securities between March 25, 2024, and March 17, 2025, both dates inclusive (the “Class Period”).

Bakkt is a technology company which builds software related to the selling, buying, and storage of cryptocurrency.  In April 2023, the Company acquired Apex Crypto LLC, a platform for integrated crypto trading, which it renamed Bakkt Crypto.  This acquisition provided the Company with significant new clients and financial technology partners including Webull Pay LLC (“Webull”).  Prior to its acquisition of Bakkt Crypto, revenue generated from the Company’s crypto services had been immaterial; however, in the year ending December 31, 2023, revenue from crypto services became a significant driver of the Company’s business, accounting for 93.2% of the Company’s revenue.  Separately, the Company also operates a “Loyalty Solutions” segment which enables point redemption and fulfillment (including travel reservations).

The Bakkt class action lawsuit alleges that Defendants, throughout the Class Period, made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects.  Specifically, Defendants: (1) misrepresented the stability and/or diversity of its crypto services revenue; (2) failed to disclose Bakkt Crypto’s services revenue was substantially dependent on a single contract with Webull; (3) misrepresented the Company’s ability to maintain key client relationships.  As a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.  As a result of Defendants’ wrongful acts and omissions, and the precipitous decline in the market value of the Company’s securities, Plaintiff and other Class members have suffered significant losses and damages.

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If you purchased or otherwise acquired Bakkt securities between March 25, 2024, and March 17, 2025, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at [email protected]. 

The deadline to apply to the Court to serve as lead plaintiff in the Bakkt class action lawsuit is June 2, 2025.