The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Bakkt Holdings, Inc. f/k/a VPC Impact Acquisition Holdings (NYSE: BKKT) who purchased : (a) Bakkt securities between March 31, 2021 and November 19, 2021, both dates inclusive; and/or (b) Bakkt Class A common stock pursuant and/or traceable to the documents issued in connection with the business combination between the Company and Bakkt Holdings, LLC completed on or about October 15, 2021. The action, which was filed in the United States District Court for the Eastern District of New York, alleges that the Company violated federal securities laws.
In particular, the Bakkt Holdings, Inc. f/k/a VPC Impact Acquisition Holdings lawsuit alleges that (i) the Company had defective financial controls; (ii) as a result, there were errors in the Company’s financial statements related to the misclassification of certain shares issued prior to the business combination between the Company and Bakkt Holdings, LLC; (iii) accordingly, the Company would need to restate certain of its financial statements; (iv) the Company downplayed the true scope and severity of these issues; (v) the Company overstated its remediation of its defective financial controls; and (vi) as a result, the documents issued in connection with the business combination and defendants’ public statements throughout the class period were materially false and/or misleading and failed to state information required to be stated therein.
Shareholders have until June 20, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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