LOS ANGELES, Oct. 14, 2026 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises Webull Corporation, (“Webull” or the “Company”) (NASDAQ: BULL) investors of a class action on behalf of investors that bought securities between April 26, 2025 and October 6, 2026, inclusive (the “Class Period”). Webull investors have until December 7, 2026 to file a lead plaintiff motion.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or join the case via https://portnoylaw.com/webull-corporation. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The class action lawsuit against Webull claims that during the Class Period, defendants made false and misleading statements regarding the company’s operational independence from the People’s Republic of China (PRC). Specifically, the complaint alleges defendants concealed that: (i) Webull’s mainland China activities extended far beyond simple research, development, and technical support, relying heavily on PRC-based personnel and legal infrastructure for its core engineering, data pipelines, and software development; (ii) the company’s technical workforce, corporate ownership, IT infrastructure, cross-border data transmission, compliance setup, and financing were structurally tied to China; (iii) assertions that Webull operated primarily as a U.S. business and that American customer data was protected from foreign access significantly inflated its operational autonomy from the PRC; and (iv) as a result, corporate statements concerning Webull’s operational model, business health, and overall outlook were materially misleading and lacked a reasonable factual basis. The complaint highlights that these risks materialized on October 7, 2026, when CNBC reported on findings from the U.S. House of Representatives Select Committee on the Strategic Competition Between the United States and the Chinese Communist Party. According to the report, the Select Committee identified a significant discrepancy between Webull’s branding as a domestic entity and its underlying control structures, determining that its technology, financing, workforce, data routing, and ownership were structurally connected to the PRC. Furthermore, while Webull originally claimed to have no staff or facilities in China, the investigation uncovered that its mainland subsidiary maintained roughly 863 employees—representing approximately 62% of Webull’s worldwide workforce. Following this report, Webull’s share price dropped by 19%.
The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA, NY and TX Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
Attorney Advertising
Media gallery
