GlobeNewswire Inc | Nov 22, 2021 05:30PM EST

November 22, 2021

NEW YORK, Nov. 22, 2021 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Bakkt Holdings, Inc. (Bakkt or the Company) (NYSE:BKKT). Such investors are advised to contact Robert S. Willoughby atnewaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether Bakkt and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

[Click here for information about joining the class action]

On November 22, 2021, in a filing with the U.S. Securities and Exchange Commission, Bakkt disclosed that the Companys management 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) . . . which were issued in connection with VIHs initial public offering (the IPO), and has identified errors in the historical financial statements of VIH . . . related to the misclassification (the Misclassification) of the Class A Ordinary Share and has determined that it is appropriate to restate certain of VIHs condensed consolidated financial statements[.]

On this news, Bakkts stock price fell $2.65 per share, or 13.47%, to close at $17.02 per share on November 22, 2021.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

CONTACT:Robert S. WilloughbyPomerantz LLPrswilloughby@pomlaw.com888-476-6529 ext. 7980