The Rosen Law Firm has filed a securities class action against Webull Corporation on behalf of investors who purchased shares between April 26, 2025, and October 6, 2026. The lawsuit alleges that Webull made misleading statements and failed to disclose significant operational, structural and technological ties to mainland China.
The lawsuit follows a report by the U.S. House Select Committee on China, which described a “profound gap” between Webull’s marketing as an American company and its actual control. The suit claims Webull misrepresented its U.S. operations and the security of customer data, and overstated its independence from the People’s Republic of China.
News of the lawsuit led to a sharp decline in Webull’s stock price.