Bakkt is facing a class-action lawsuit from some investors, accused of making false or misleading statements and failing to disclose certain information.

According to Techub News and a report by Cointelegraph, a group of investors in the crypto assets custody and trading platform Bakkt has filed a class-action lawsuit, accusing Bakkt of making false or misleading statements and failing to disclose certain information. According to documents submitted to the U.S. District Court for the Southern District of New York on April 2, lead plaintiff Guy Serge A. Franklin is seeking a jury trial as part of the lawsuit against Bakkt, senior advisor and former CEO Gavin Michael, CEO and President Andrew Main, and interim CFO Karen Alexander. The investor group claims that Bakkt's violations of U.S. securities law and lack of transparency regarding its agreements with clients Webull and Bank of America (BoA) have resulted in significant losses for the plaintiffs and other members of the class.