Webull faces class action lawsuit over alleged securities violations
Law firm Schall, Brown & Schwartz is organizing a class action against Webull Corporation, alleging the company misled investors regarding its operational ties to China.
Shareholder rights litigation firm Schall, Brown & Schwartz (SBS) has issued a notice to investors regarding an ongoing class action lawsuit against Webull Corporation (NASDAQ: BULL). The legal action alleges that Webull violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by disseminating false and misleading information to the public.
The complaint contends that while Webull marketed itself as a U.S.-based entity, its core engineering, software development, and compliance structures were heavily reliant on operations in mainland China. Plaintiffs argue that these undisclosed dependencies constituted a material misrepresentation, leading to shareholder losses once the company's true corporate structure was revealed.
The class period for the lawsuit covers share purchases made between April 26, 2025, and October 6, 2026. Investors who suffered losses during this period have until December 7, 2026, to apply for lead plaintiff status. The class has not yet been certified by the court.