An investigation on behalf of investors in Bakkt Holdings, Inc. (NYSE: BKKT) shares over potential wrongdoing at Bakkt Holdings, Inc. was announced.
San Diego, CA — (SBWIRE) — 01/24/2022 — An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at Bakkt Holdings, Inc.
Investors who purchased shares of Bakkt Holdings, Inc. (NYSE: BKKT) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain Bakkt Holdings, Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.
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.
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