Investors Sue Crypto Firm Bakkt Over Alleged Stock Price Deception
Bakkt and its top brass are facing a complaint in Manhattan federal district court over allegations they duped the market with overly rosy projections about the firm’s financial future—only for the truth to come crashing down, leaving investors with major losses.
The case dates back to April 2023, when Bakkt Holdings Inc., a technology company that builds software related to the selling, buying and storage of cryptocurrency, acquired Apex Crypto LLC, a platform for integrated crypto trading, which it renamed Bakkt Crypto. The acquisition provided Bakkt with new clients and financial tech partners, including Webull Pay LLC.
