The Swansea Supporters Trust are suspicious of the club's plan to sell a controlling stake to American businessmen.
Swansea City supporters have expressed concern about reported American investment in the club.
The club's board confirmed last week that it was "working to finalize an agreement" over substantial American investment in the club, but the Swansea Supporters Trust has expressed concern about the deal.
Vice-chairman Jim White says the trust has been given no information as to what the investment entails, despite owning a 21 percent stake in the club.
"We have not been party - and are disappointed about that - to the same level of information as other shareholders have had, but from what we have seen, this is a share sale," he told the BBC.