Levi & Korsinsky Reminds Shareholders of a Lead Plaintiff Deadline of December 7, 2026 in Webull Corporation Lawsuit - BULL
NEW YORK, Oct. 19, 2026 -- Levi & Korsinsky, LLP alerts investors in Webull Corporation (NASDAQ: BULL) of a pending securities class action over the online brokerage's allegedly China-tied data infrastructure. Class Period: April 26, 2025 through October 6, 2026. Check if you might be eligible to recover your investment losses or contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.
On October 7, 2026, shares fell $1.39, or approximately 19%, to close at $5.89 on unusually heavy volume following allegations that Webull had ties to China. December 7, 2026 is the last day for investors to seek appointment as lead plaintiff. The Court has set December 7, 2026 as the deadline to apply for lead plaintiff appointment.
"Investors deserve transparency about material risks that could affect their investments. Here, the complaint alleges that the people and systems running Webull's core platform were concentrated in mainland China while shareholders received assurances about U.S. data safeguards." -- Joseph E. Levi, Esq.
The Alleged Hunan-Based Engineering Concentration
The action claims Webull's software development, data pipelines, and core engineering depended on infrastructure subject to Chinese law. According to the action, they also depended on staff at Hunan Weibu Information Technology Co., Ltd., the Company's mainland China subsidiary. The Company's own filings showed that subsidiary held 731 employees, or 61% of the workforce, at year-end 2024.
The Company's SEC filings nonetheless stated that personal information of customers of Webull Financial, its U.S. broker-dealer, "cannot be transmitted outside of the United States or accessed by our non-U.S. employees without permission and oversight from our U.S. personnel." As alleged, the platform's technology infrastructure and cross-border data routing were tied to China.
China-Tied Data Infrastructure Scrutiny in Online Brokerage Securities
- In April 2024, attorneys general from 14 states raised concerns in a public letter that sensitive customer data could potentially be exposed to the Chinese Communist Party.
- On December 5, 2024, the House Select Committee on the CCP sought information on Webull Financial's relationship with the Company's China operations and on customer data security.
- Management stated that the claims in both letters were "largely based on outdated and inaccurate information," a position that was allegedly unfounded.
- The Select Committee reportedly found that Webull's technical workforce, technology infrastructure, and cross-border data routing are "tied in structural ways" to the PRC.
Why Data-Access Assurances Allegedly Matter to BULL Shareholders
Webull Financial holds personal and financial records of U.S. brokerage customers. Where the Company's engineers work and where that data travels bear directly on its regulatory exposure. Class Period buyers allegedly lacked a full picture of that risk.
Learn more about the case or call (212) 363-7500.
ABOUT LEVI & KORSINSKY, LLP — Over the past 20 years, Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders. The firm has extensive expertise in complex securities litigation and a team of over 70 employees. For seven consecutive years, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report. Investors who suffered losses have until December 7, 2026 to seek appointment as lead plaintiff.
Frequently Asked Questions About the BULL Lawsuit
Q: How much did BULL stock drop? A: Shares fell approximately 19%, a decline of $1.39 per share, after CNBC reported on October 7, 2026 that the House Select Committee had found Webull's technical workforce, technology infrastructure, and cross-border data routing tied in structural ways to the PRC. Investors who purchased shares during the Class Period at allegedly artificially inflated prices and suffered losses may be eligible to seek compensation.
Q: What specific misstatements does the BULL lawsuit allege? A: The complaint alleges Webull Corporation made materially false or misleading statements during the Class Period. The alleged statements concerned two subjects. The first was the extent to which its software development, data pipelines, and core engineering relied on PRC-based personnel and infrastructure subject to Chinese law. The second was whether U.S. customer data was insulated from non-U.S. access. When the Select Committee's findings were reported on October 7, 2026, the stock price declined sharply.
Q: What court was the BULL class action filed in? A: The case was filed in the United States District Court for the Middle District of Florida, Tampa Division, governed by the Private Securities Litigation Reform Act of 1995.
Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.
Q: What happens after I contact Levi & Korsinsky? A: An attorney will review your trading history at no cost and provide an initial assessment of your potential eligibility.
Q: What if I already sold my BULL shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought during the Class Period and sold at a loss may still be eligible to participate.
Q: What if I live outside the United States? A: U.S. securities class actions generally cover purchases on U.S. exchanges regardless of the investor's country of residence.
Q: What does it cost me to participate? A: There is no upfront cost to submit your information and review whether you may be eligible to recover. Should you choose to participate in the securities class action, they are generally handled on a contingency basis, with any attorneys' fees and expenses subject to court approval.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
Tel: (212) 363-7500
Fax: (212) 363-7171
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