Webull Corporation faces class action lawsuit over alleged misrepresentations
Law firm Robbins LLP has initiated a class action lawsuit against Webull Corporation on behalf of investors, citing misleading disclosures regarding the firm's operational ties to China.
Robbins LLP has filed a class action lawsuit against Webull Corporation, covering investors who acquired securities between April 26, 2025, and October 6, 2026. The complaint alleges that the brokerage falsely represented its corporate structure and data security protocols to the market.
The litigation centers on allegations that Webull obscured the extent of its reliance on China-based infrastructure and personnel. While the company portrayed itself as a U.S.-headquartered firm with protected customer data, a report by a U.S. House Select Committee revealed that the majority of the firm's workforce was situated in mainland China and that its core technical frameworks were integrated with Chinese operations.
Following the publication of these findings in October 2026, Webull shares declined by 19 percent in a single trading session. Investors eligible to participate in the class action have until December 7, 2026, to file for lead plaintiff status as part of the ongoing litigation process.