Webull Faces Investor Class Action Over China Operations

Webull faces a securities class action alleging that it misled investors about the extent of its ties to China, including the role of China-based staff and infrastructure in its engineering, data operations, financing and compliance. The lawsuit claims those connections conflicted with Webull’s representations that its main operations were U.S.-based and U.S. customer data was insulated from access outside the country. The allegations followed a House committee’s findings, reported by CNBC, that Webull’s operations were structurally tied to China and that its mainland subsidiary employed about 863 people; Webull shares fell 19% after the news. Investors who acquired Webull securities during the alleged class period, April 26, 2025, through October 6, 2026, have until December 7, 2026, to seek appointment as lead plaintiff.