Pomerantz Law Firm Announces the Filing of a Class Action Against BitGo Holdings, Inc. and Certain Officers - BTGO
NEW YORK, June 11, 2026 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against BitGo Holdings, Inc. ("BitGo" or the "Company") (NYSE: BTGO) and certain officers. The class action, filed in the United States District Court for the Eastern District of New York, and docketed under 26-cv-03428, is on behalf of a class (the "Class") consisting of all persons and entities other than Defendants that purchased or otherwise acquired (a) BitGo Class A common stock pursuant and/or traceable to the Offering Documents (defined below) issued in connection with the Company's January 22, 2026 initial public offering (the "IPO" or "Offering"); and/or (b) BitGo securities between January 22, 2025 and May 13, 2026, both dates inclusive (the "Class Period"). Plaintiff pursues claims against the Defendants seeking to recover damages caused by Defendants' violations of the federal securities laws and to pursue remedies under Sections 11 and 15 of the Securities Act of 1933 (the "Securities Act") and Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
If you are an investor who purchased or otherwise acquired BitGo securities during the Class Period, you have until August 7, 2026, to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Danielle Peyton at [email protected] or 646-581-9980 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
[Click here for information about joining the class action]
BitGo operates as a digital asset infrastructure company, offering a platform on which its customers may store, trade, and stake digital assets. The Company reports its revenue in segments including, as relevant here, Digital Asset Sales, which is derived from the total value of trading volume of digital asset trades during the relevant reporting period, and Staking, which is primarily comprised of revenues associated with rewards issued by a relevant blockchain protocol, typically in form of the blockchain network's digital asset.
On September 19, 2026, BitGo filed a registration statement on Form S-1 with the United States Securities and Exchange Commission ("SEC") in connection with the IPO, which, after several amendments, was declared effective by the SEC on January 21, 2026 (the "Registration Statement").
On January 22, 2026, BitGo conducted the IPO, selling 11,821,595 million shares of its Class A common stock to the public at the initial offering price of $18.00 per share for proceeds of over $187.58 million to the Company, before expenses, and after applicable underwriting discounts and commissions.
On January 23, 2026, BitGo filed a prospectus on Form 424B4 with the SEC in connection with the IPO, which incorporated and formed part of the Registration Statement (the "Prospectus" and, together with the Registration Statement, the "Offering Documents").
The Offering Documents were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing their preparation. Additionally, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, the Offering Documents and Defendants made false and/or misleading statements and/or failed to disclose that: (i) Defendants understated the scope and severity of the risk that declining digital asset prices posed to Company's business and financial performance; (ii) consequently, Defendants' statements regarding, inter alia, BitGo's financial performance and business prospects as a public company lacked a reasonable basis; and (iii) as a result, the Offering Documents and Defendants' public statements throughout the Class Period were materially false and/or misleading and/or failed to state information required to be stated therein.
On March 26, 2026, BitGo issued a press release announcing its fourth quarter and full year 2025 financial results. Among other items, BitGo reported a net loss of $14.8 million for 2025, compared to $156.6 million in net income for 2024, a quarterly margin of 0.21% in its Digital Asset Sales segment, compared to a quarterly margin of 0.47% in the prior year, and declined to offer specific revenue guidance for the first quarter of 2025. BitGo stated that the change in its annual net loss was "materially driven by declines in digital asset prices impacting the Company's Bitcoin treasury." Defendants also declined to provide explicit guidance for the first fiscal quarter of 2026, even though the quarter would end just five days later. Instead, Defendants merely provided general commentary to the effect that BitGo's revenue streams faced "a direct impact" from a "challenging" macroeconomic environment.
On this news, BitGo's stock price fell $1.43 per share, or 15.71%, to close at $7.67 per share on March 27, 2026.
Then, on May 13, 2026, BitGo issued a press release announcing its business and financial results for the first fiscal quarter of 2026. Among other items, BitGo reported a net loss of $60.7 million, compared to a net loss of $25.7 million in the same quarter one year earlier. BitGo stated that its quarterly net loss "reflect[ed] weaker market conditions, approximately $3.0 million of one-time legal and professional costs associated with the IPO and other strategic initiatives, and continued investment in product, platform, and go-to-market capabilities".
On this news, BitGo's stock price fell $2.05 per share, or 17.2%, to close at $9.86 on May 14, 2026.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, 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 billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
646-581-9980 ext. 7980
SOURCE Pomerantz LLP
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