Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Webull Corporation (“Webull” or the “Company”) (NASDAQ: BULL) common stock 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.

IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN WEBULL CORPORATION (BULL), CONTACT THE LAW OFFICES OF HOWARD G. SMITH TO PARTICIPATE IN THE ONGOING SECURITIES FRAUD LAWSUIT.

Contact the Law Offices of Howard G. Smith to discuss your legal rights by email at howardsmith@howardsmithlaw.com, by telephone at (215) 638-4847 or visit our website at www.howardsmithlaw.com.

What Happened?

On October 7, 2026, the bipartisan House Select Committee on China issued a report which found "a profound gap" between Webull's public marketing as "an American company" and actual control of the alleged St. Petersburg, Florida-based firm. The committee reportedly found “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 told the Select Committee that it had no offices or employees in China, while Webull’s mainland China subsidiary in fact employed approximately 863 employees, or 62% of Webull’s global workforce.

Webull Corporation stock fell $1.39 or 19.09%, to close at $5.89 on October 7, 2026, thereby injuring investors.

What Is the Lawsuit About?

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (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 Webull'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. When the true details entered the market, the lawsuit claims that investors suffered damages.

Contact Us to Participate or Learn More:

If you purchased Webull Corporation common stock, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:

Law Offices of Howard G. Smith
3070 Bristol Pike, Suite 112
Bensalem, Pennsylvania 19020
Telephone: (215) 638-4847
Email: howardsmith@howardsmithlaw.com
Visit our website at: www.howardsmithlaw.com.

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