Webull (BULL) Faces Securities Class Action Amid House Committee Findings: "Profound Gap" Between Company Statements and Operational Reality - HBSS

SAN FRANCISCO, Nov. 6, 2026 /PRNewswire/ -- Hagens Berman alerts Webull Corporation (NASDAQ: BULL) investors that a federal securities class action lawsuit has been filed against the company, alleging misrepresentations regarding its operations and workforce ties in mainland China.

Investors who suffered substantial losses in Webull shares during the class period should contact Hagens Berman to discuss their rights.

• Class Period: Apr. 26, 2025  – Oct. 6, 2026
• Lead Plaintiff Deadline: Dec. 7, 2026
• Visit: www.hbsslaw.com/bull 
• Contact Email: [email protected] 
• Direct Firm Phone: 844-916-0895

Webull (BULL) Securities Class Action Overview:

The complaint alleges Webull misled investors about the nature of its business structure, claiming core operations were based in the U.S. and that mainland China facilities provided only minimal technical support.

Investors allegedly learned the truth on October 7, 2026, when the House Select Committee published findings confirming Webull's data practices expose U.S. investors to PRC surveillance risk, its governance is dominated by PRC-linked control, and its subsidiary accepted PRC government funding conditional on CCP loyalty. The Committee also cited misrepresentations regarding employee supervision, weaker-than-promised regulatory controls, and concerning clearing safeguards.

On this news, Webull stock fell ~19% to close at $5.89 per share.

"We're focused on the Select Committee's findings and whether, if accurate, Webull may have intentionally misled investors about its corporate structure and violated applicable securities laws," said Reed Kathrein, the Hagens Berman partner leading the investigation.

Whistleblowers: Persons with non-public information regarding Webull should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call 844-916-0895 or email [email protected].

About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. 

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SOURCE Hagens Berman Sobol Shapiro LLP