Bakkt Lawsuit: Investors Sue Over Financial Dependence on Webull and Bank of America

Bakkt Holdings, a cryptocurrency platform focused on custody and trading, is facing a class-action lawsuit from investors who claim the company misled shareholders about its financial reliance on two major clients: Webull and Bank of America. The complaint filed in U.S. District Court for the Southern District of New York accuses Bakkt of violating securities laws by misrepresenting the stability of its revenue stream, particularly as contracts with these key partners are set to expire this year.