LOS ANGELES, CA / ACCESSWIRE / June 19, 2022 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Bakkt Holdings, Inc. f/k/a VPC Impact Acquisition Holdings ("Bakkt" or "the Company") (NYSE: BKKT, BKKT-WT) (NASDAQ: VIHAU, VIH, VIHAW) for violations of the federal securities laws.
Investors who purchased the Company's shares between March 31, 2021 and November 19, 2021, inclusive (the ''Class Period'') or pursuant and/or traceable to the Offering Documents issued in connection with the business combination between the Company and Bakkt Holdings, LLC ("Legacy Bakkt") completed on or about October 15, 2021 (the "Business Combination"), are encouraged to contact the firm before June 21, 2022.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Bakkt failed to maintain appropriate controls on its financials. The Company committed errors in how it classified certain shares issued before the Business Combination. These errors would require the restatement of certain financial statements. The Company downplayed the true severity of its financial misstatements. The Company then overplayed its efforts to remediate its financial controls. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Bakkt, investors suffered damages.
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The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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SOURCE: The Schall Law Firm