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SHAREHOLDER REMINDER: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Bakkt Holdings

1. Faruqi & Faruqi is investigating potential claims against Bakkt. 2. Bakkt's revenue stability was reportedly misrepresented, depending heavily on Webull. 3. Webull's contract termination will lead to a 73% loss in revenue. 4. Bakkt's share price dropped 27.3% after the news of client cancellations. 5. Class action lawsuit deadlines are approaching for affected investors.

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FAQ

Why Very Bearish?

The termination of key contracts and substantial revenue loss is highly detrimental, similar to past cases like companies that lost major clients (e.g., those affected by customer dependencies). Such events typically lead to significant stock price declines.

How important is it?

The significant contractual losses and pending lawsuits present a critical situation for Bakkt's financial health and investor confidence. Historical parallels to similar situations in other firms show a high likelihood of lasting impact.

Why Short Term?

Immediate effects due to financial disclosures, revealed revenues, and market reactions are likely, as seen in previous instances where client contract issues quickly eliminated investor confidence.

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Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In Bakkt To Contact Him Directly To Discuss Their OptionsIf you purchased or acquired securities in Bakkt between March 25, 2024 and March 17, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).[You may also click here for additional information], /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Bakkt Holdings, Inc. ("Bakkt" or the "Company") (NYSE: BKKT) and reminds investors of the June 2, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi Logo (PRNewsfoto/Faruqi & Faruqi, LLP) Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com. As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) the stability and/or diversity of its crypto services revenue was misrepresnted; (2) failed to disclose Bakkt's Crypto services revenue was substantially dependent on a single contract with Webull; (3) misrepresented its 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. On March 17, 2025, after market close, Bakkt disclosed Webull was terminating its commercial agreement with the Company, effective June 14, 2025. The Company revealed that in the prior nine months ended September 30, 2024 and the full year ended December 31, 2023, Webull made up 74% of Bakkt's crypto services revenue. In that same period, the Company derived 98% of its revenue from crypto services. The Company also disclosed that Bank of America was terminating its loyalty services contract with the Company, effective April 22, 2025. The Company revealed Bank of America made up 17% of Bakkt's loyalty services revenue in the prior nine months ended September 30, 2024. The customer cancellations will collectively result in a 73% loss in top line revenue going forward.On this news, the Company's share price fell $3.50 or 27.3%, to close at $9.33 per share on March 18, 2025, on unusually heavy trading volume.The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding Bakkt's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.To learn more about the Bakkt Holdings class action, go to www.faruqilaw.com/BKKT or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).Follow us for updates on LinkedIn, on X, or on Facebook.Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.SOURCE Faruqi & Faruqi, LLP WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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