The litigation, filed in the U.S. District Court for the Middle District of Florida, claims Webull executives maintained a facade of domestic operations while significant software development and data routing functions remained tethered to China. These allegations gained traction following a report from the House Select Committee on the Strategic Competition Between the United States and the Chinese Communist Party, which identified a major discrepancy between the company’s public narrative and its internal reality.
In section Releases
Investors Target Webull Over Undisclosed Ties to China
A federal class action lawsuit now challenges Webull Corporation’s claims of U.S. independence, alleging the brokerage misled shareholders regarding its deep operational reliance on personnel and infrastructure within the People’s Republic of China. Investors who purchased BULL stock between April 2025 and October 2026 face a December 7 deadline to participate.
According to the committee’s findings, Webull’s workforce in mainland China accounted for roughly 62% of its total global staff, contradicting previous assertions that the company lacked a significant physical footprint in the region. Following the disclosure of these findings on October 7, 2026, the company’s share price dropped 19%. The law firm Robbins Geller Rudman & Dowd LLP is currently seeking lead plaintiffs who suffered substantial losses to represent the class in the case captioned Ward v. Webull Corporation.
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