Investigation announced for Investors in shares of Bakkt Holdings, Inc. (NYSE: BKKT)

An investigation was announced concerning potential securities laws violations by Bakkt Holdings, Inc. in connection with certain financial statements.

Investors who purchased shares of Bakkt Holdings, Inc. (NYSE: BKKT), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by Bakkt Holdings, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Alpharetta, GA based Bakkt Holdings, Inc. operates a digital asset platform.

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."

Shares of Bakkt Holdings, Inc. (NYSE: BKKT) declined from $22.40 per share on November 19, 2021, to $14.75 per share during November 29, 2021.

Those who purchased shares of Bakkt Holdings, Inc. (NYSE: BKKT) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.