Shareholder rights law firm Robbins LLP informs investors that a class action was filed on behalf of persons or entities who purchased or otherwise acquired Webull Corporation (NASDAQ: BULL) securities between April 26, 2025 and October 6, 2026, inclusive (the “Class Period”). Webull operates as a digital investment platform.

The complaint alleges that Webull falsely marketed itself as a U.S.-based company and claimed customer data was isolated from non-U.S. access.

Investors who purchased Webull Corporation securities during the Class Period and suffered significant losses should contact Robbins LLP for information about the lawsuit and the December 7, 2026 lead plaintiff motion deadline.

Why Was Webull Sued?

According to the complaint, Webull's Class A ordinary shares began trading on April 11, 2025, following the completion of the Company's business combination with SK Growth Opportunities, a special purpose acquisition company.

The complaint alleges that, during the Class Period, defendants failed to disclose:

(1) Webull’s mainland China operations were not limited to research and development and technical support functions, but rather Webull’s software development, data pipelines, and core engineering depended on PRC-based personnel and on infrastructure subject to Chinese law;
(2) Webull’s ownership structure, technical workforce, technology infrastructure, cross-border data routing, financing, and compliance structure were structurally tied to China;
(3) as a result, Webull’s representations that its principal business operations were based in the U.S. and that its U.S. customer data was insulated from non-U.S. access materially overstated the Company’s independence from the PRC; and
(4) as a result, defendants’ statements about Webull’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Why Did Webull Stock Drop?

Plaintiff alleges that on October 7, 2026, before the markets opened, CNBC reported that the Select Committee on the Strategic Competition Between the United States and the Chinese Communist Party of the U.S. House of Representatives (the "Select Committee") had found a “profound gap” between Webull’s presentation of itself as an American company and its actual control and operations. According to the report, the Select Committee found that “Webull’s ownership architecture, technical workforce, technology infrastructure, cross-border data routing, corporate financing, and compliance frameworks are tied in structural ways to the People’s Republic of China.”

The Select Committee also reportedly found that Webull initially informed the Select Committee it had no offices or employees in China, while Webull’s mainland China subsidiary in fact had approximately 863 employees, or 62% of Webull’s global workforce.

On this news, Webull’s Class A ordinary shares fell $1.39 per share, or approximately 19%, to close at $5.89 per share on October 7, 2026, on unusually heavy trading volume.

What Can Webull Shareholders Do Now?

Investors who purchased Webull Corporation Class securities during the Class Period may be eligible to serve as lead plaintiff. The lead plaintiff is a court-appointed investor who represents the interests of all class members throughout the litigation. Stockholders who wish to seek appointment as lead plaintiff must move the court no later than December 7, 2026. Contact Robbins LLP for information about the appointment process.

Shareholders do not need to serve as lead plaintiff to share in any potential recovery. Investors who do not seek appointment may remain absent class members.

Does It Cost Anything to Participate?

No. Robbins LLP represents investors on a contingency fee basis, with no upfront or out-of-pocket fees or expenses.

Contact Robbins LLP

Investors seeking additional information about the Webull Corporation securities class action may contact Robbins LLP by submitting an inquiry, emailing attorney Aaron Dumas, Jr., or calling (800) 350-6003.

About Robbins LLP

A recognized leader in shareholder rights litigation, Robbins LLP represents investors in securities fraud and shareholder derivative litigation. We have helped restore more than $2 billion in value to shareholders and secured some of the largest recoveries in shareholder derivative litigation history.

"Companies have an obligation to provide investors with complete and accurate information so that markets can function fairly and efficiently," said Brian J. Robbins, Founding Partner of Robbins LLP.

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