Eligible Webull investors have until Dec. 7, 2026, to seek lead-plaintiff status in a Florida securities case over allegations about the brokerage’s China operations and customer-data safeguards, according to an investor alert.
Kessler Topaz Meltzer & Check LLP’s alert summarizes the complaint as alleging that Webull Corporation (Nasdaq: BULL) understated its reliance on China-based staff and infrastructure and misrepresented protections for U.S. customer data. The firm says it did not file the complaint.
The public docket lists Ward v. Webull Corporation as filed Oct. 8, 2026, in the U.S. District Court for the Middle District of Florida. It names Jolene Ward as plaintiff and Webull, Anquan Wang and H.C. Wang as defendants.
The alert says the proposed class covers investors who bought or acquired Webull securities during a period ending Oct. 6, 2026. Its main text gives April 26, 2025, as the start date, while its summary box says April 26, 2026; the firm’s case page also uses 2025. The alert says investors who do not seek the lead role may remain absent class members, and that Dec. 7 is the deadline for seeking appointment to that role.
Webull’s 2025 Form 20-F reported that its mainland China subsidiary, Hunan Weibu Information Technology Co., Ltd., had 863 employees as of Dec. 31, 2025, equal to 62% of Webull’s workforce. The filing characterized the subsidiary’s work in China as research and technical support.
The House Select Committee on the Strategic Competition Between the United States and the Chinese Communist Party released a report on Oct. 7 that raised legal and surveillance concerns about Webull’s China-linked workforce, technology and data arrangements. The report did not establish that Chinese authorities had accessed customer data.
In a statement furnished to the U.S. Securities and Exchange Commission on Oct. 9, Webull disputed the committee’s conclusions. The company said U.S. customer data is stored on Amazon Web Services infrastructure in the continental United States and that employees in China cannot access it.
The docket records the complaint’s filing and lists no ruling on its claims. The next date stated in the alert is Dec. 7, the deadline to seek lead-plaintiff appointment.
