What Should Webull Corporation Investors Know After 19.09% Stock Drop? The Law Offices of Frank R. Cruz Outlines Securities Fraud Class Action Lead Plaintiff Deadline

PR Newswire

LOS ANGELES, Oct. 29, 2026

Lawsuit alleges Webull Corporation made misleading statements to investors from April 26, 2025 to October 6, 2026; lead plaintiff motions are due December 7, 2026

LOS ANGELES, Oct. 29, 2026 /PRNewswire/ -- The Law Offices of Frank R. Cruz today announced a class action lawsuit against Webull Corporation ("Webull" or the "Company") (NASDAQ: BULL) on behalf of investors who acquired the Company's securities from April 26, 2025 to October 6, 2026. Filed on October 8, 2026, the case is Ward v. Webull Corporation et al., U.S. District Court Middle District of Florida (Tampa), Case No. 8:26-cv-03052.

If you lost money on Webull Corporation securities, submit your Webull Corporation loss information by December 7, 2026 to learn about participating in the lawsuit.

Webull Corporation class action timeline

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 Webull Corporation lawsuit about?

The Webull Corporation securities lawsuit alleges that, between April 26, 2025 and October 6, 2026, defendants made materially false and/or misleading statements and failed to disclose material adverse facts about Webull Corporation's business, operations, and prospects. Specifically, the complaint alleges defendants failed to disclose 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' positive statements about Webull Corporation's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

"According to the complaint filed against Webull Corporation, the Company, among other things, did not disclose that 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. The December 7, 2026 deadline is a key date for Webull Corporation investors who want a voice in how this case moves forward," said Frank R. Cruz of The Law Offices of Frank R. Cruz.

What should Webull Corporation investors do now?

The Law Offices of Frank R. Cruz can help Webull Corporation investors evaluate potential claims to recover their losses.

Investors who want to serve as lead plaintiff in the Webull Corporation class action must file a motion with the Court by December 7, 2026. For more information, visit the Webull Corporation case page, email info@frankcruzlaw.com, or call 310-914-5007.

If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.

Investors may retain counsel of their choice. Webull Corporation investors who bought during the class period may also take no action and remain absent class members. No class has been certified yet in the Webull Corporation case.

Questions and answers about the Webull Corporation lawsuit

Who is eligible? Investors who bought Webull Corporation securities between April 26, 2025 and October 6, 2026 and lost money may be class members, and may seek lead plaintiff appointment by December 7, 2026.

What does a lead plaintiff do? The lead plaintiff is appointed by the court to represent all class members and direct the Webull Corporation class action.

Must I be lead plaintiff to share in a recovery? No, Webull Corporation investors can take no action and remain absent class members.

How are attorneys' fees handled? The Law Offices of Frank R. Cruz works on contingency, so Webull Corporation investors pay no attorneys' fees up front. Any attorneys' fees and litigation expenses come only from a recovery, if there is one, and require court approval.

About The Law Offices of Frank R. Cruz

The Law Offices of Frank R. Cruz investigates and prosecutes securities fraud and corporate malfeasance class actions. With nearly 20 years of litigation experience, the firm focuses on complex securities class actions and gives each client personal, one-on-one attention throughout the legal process.

Prior results do not guarantee a similar outcome.

Related links

Follow The Law Offices of Frank R. Cruz for updates on Twitter: twitter.com/FRC_LAW

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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SOURCE The Law Offices of Frank R. Cruz, Los Angeles