The information contained on this web page is only a summary of information presented in more detail in the Notice of (i) Proposed Settlement; (ii) Motion for an Award of Attorneys’ Fees and Litigation Expenses; and (iii) Settlement Fairness Hearing (the “Notice”), which you can access by clicking here. Since this website is just a summary, you should review the Notice for additional information.

IF YOU ARE A SETTLEMENT CLASS MEMBER, YOUR LEGAL RIGHTS WILL BE AFFECTED BY THIS SETTLEMENT WHETHER YOU ACT OR DO NOT ACT. PLEASE READ THE NOTICE CAREFULLY. THE SETTLEMENT CLASS CONSISTS OF:

ALL PERSONS AND ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED PUBLICLY TRADED BAKKT SECURITIES (i) DURING THE PERIOD FROM MARCH 31, 2021 THROUGH NOVEMBER 19, 2021, BOTH DATES INCLUSIVE, OR (ii) PURSUANT AND/OR TRACEABLE TO THE REGISTRATION STATEMENT, AND WERE ALLEGEDLY DAMAGED THEREBY.

"Bakkt Securities" means the publicly traded common stock of VIH and/or Bakkt and warrants issued by VIH and/or Bakkt to purchase shares of common stock of VIH and/or Bakkt, respectively, including warrants and shares of common stock registered by the Company's Registration Statement on Form S-l filed with the U.S. Securities Exchange Commission on March 31, 2021 and declared effective (as amended) as of September 17, 2021 (the "Registration Statement").

The Settlement Fairness Hearing

A Settlement Fairness Hearing will be held by telephone on February 27, 2024 at 11:00 a.m. To dial in to the hearing, call toll free (877) 336-1274 and input the Access Code 1453850. Instructions for accessing the Settlement Fairness Hearing will be made publicly available on this Settlement Website in advance of the hearing.

The Court may adjourn the Settlement Fairness Hearing without further individual notice to the members of the Settlement Class, and reserves the right to approve the Settlement with such modifications as may be agreed upon or consented to by the Parties and without further notice to the Settlement Class where to do so would not impair Settlement Class Members’ rights in a manner inconsistent with Rule 23 and due process of law. The Court further reserves the right to enter its Judgment approving the Settlement and dismissing the Amended Complaint, on the merits and with prejudice, regardless of whether it has approved the Plan of Allocation or awarded attorneys’ fees and expenses or made awards to the Plaintiffs.

Any Settlement Class Member who does not request exclusion may object to the Settlement, the Plan of Allocation, or Co-Lead Counsel’s request for an award of attorneys’ fees and litigation expenses. You can ask the Court to deny approval by filing an objection. You cannot ask the Court to order a different settlement; the Court can only approve or reject the proposed Settlement. If the Court denies approval, no settlement payments will be sent out and the lawsuit will continue. If that is what you want to happen, you must object.

Any objection to the proposed Settlement must be in writing. All written objections and supporting papers must be submitted to the Court either by mailing them to the Clerk of the Court, United States District Court, Eastern District of New York, 225 Cadman Plaza East, Brooklyn, New York 11201, or by filing them in person at any location of the United States District Court for the Eastern District of New York, and received by the Court or filed on or before February 6, 2024. Objections must also be served on Lead Counsel and Defendants’ Counsel at the following addresses:

Further Information

This website and the Notice summarize the Settlement. For more details regarding the Settlement please reference the Settlement Agreement, or other documents filed in the case under “Court Documents” in the navigation at the top. You may also contact the Claims Administrator or Lead Counsel for further information regarding the Settlement:

What is this case about?

This Action arises under Sections 11 and 15 of the Securities Act of 1933 (the “Securities Act”) against Defendants Bakkt, Martin, Stamatoglou, Watson, Schmitz, and Summers and under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) against Defendants Bakkt, Martin, Stamatoglou, Watson, Schmitz, and Summers, and alleges that during the Class Period, Defendants made materially false and misleading statements about Bakkt’s accounting for its redeemable stock, among other things, that allegedly inflated the price of Bakkt Securities. Plaintiffs also allege that the Registration Statement on Form S-1 filed with the U.S. Securities Exchange Commission on March 31, 2021 and declared effective (as amended) as of September 17, 2021 (the “Registration Statement”), was inaccurate and misleading, contained untrue statements of material facts, omitted to state other facts necessary to make the statements made not misleading, and omitted to state material facts required to be stated therein.

Plaintiffs allege that Defendants’ misrepresentations or omissions artificially inflated the price of the publicly traded common stock of VIH and/or Bakkt and warrants issued by VIH and/or Bakkt to purchase shares of common stock of VIH and/or Bakkt, respectively (together, “Bakkt Securities”) and that, when the true facts were revealed, the artificial inflation was removed from the price of Bakkt Securities, causing the price to drop and damage to members of the Settlement Class.

The Settlement Benefits

Bakkt has agreed to cause to be paid three million dollars ($3,000,000.00) in cash into escrow for the benefit of the Settlement Class. At this time, it is not possible to make any determination as to how much individual Settlement Class Members may receive from the Settlement. Plaintiffs have proposed a plan for allocating the Net Settlement Fund to those Settlement Class Members who timely submit valid Claim Forms. The Plan of Allocation proposed by Plaintiffs is set forth in Page 11 of the Notice.

Further Information

This website and the Notice summarize the Settlement. For more details regarding the Settlement please reference the Stipulation of Settlement, or other documents filed in the case under “Court Documents” in the navigation at the top. You may also contact the Claims Administrator or Lead Counsel for further information regarding the Settlement: