Crypto technology company Bakkt Holdings Inc. was accused of making misleading statements and having ineffective financial controls during and after undergoing a merger that involved a special acquisition company.
Doron Ghatan alleges Bakkt and VPC Impact Acquisition Holdings, the SPAC used to facilitate the merger, had internal control issues that led to stock price declines. VPC Impact Holdings was created by Victory Park Capital Advisors LLC, a Chicago-based private equity firm.
Gahtan filed the suit alleging securities violations in the US District Court for the Eastern District of New York on Friday.
Gahtan alleges he lost $14 million through purchasing …
