BULL INVESTOR ALERT: Webull Hit With FINRA AML Fine, Stock Slides Again; Securities Class Action Pending

SAN FRANCISCO, Nov. 11, 2026 /PRNewswire/ -- On November 5, 2026, investors in Webull Corporation (NASDAQ: BULL) saw the price of their shares slide nearly 11% after FINRA announced that it fined the company $4.2 million "for failing to implement reasonably designed programs for anti-money laundering (AML), identity theft prevention and best execution."

The latest development follows a securities class action filed after the House Select Committee's October 7 findings regarding the company's 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
• Video: youtu.be/irkeqJZR7jw
• Blog: www.hbsslaw.com/blog/the-geolocation-of-data-fiction-webull-corporation-bull

The FINRA Development

On November 5, 2026, announcing a multimillion dollar fine against Webull, FINRA's Head of Enforcement, Bill St. Louis, put it succinctly:

• "Webull's business grew rapidly, but its compliance program did not keep pace[;]"
• "Firms must ensure that their supervisory systems grow with their business and address the risks they present[;]" and
• "Webull failed to do so in fundamental areas, including verifying its customers' identities, detecting suspicious activity and ensuring the best possible execution of customer trades."

Regarding AML violations, FINRA found that between January 2020 and September 2023, Webull approved the opening of 120,000 new customer accounts without forming a reasonable belief that it knew the true identity of those customers.

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 reviewing the Select Committee's findings and whether, if accurate, Webull may have intentionally misled investors about its corporate structure and violated applicable securities laws. Amid the FINRA fine, we've expanded our review to include its findings and whether the company may have misled investors about its compliance programs," said Reed Kathrein, the Hagens Berman partner leading the firm's investigation.

If you invested in BULL and have substantial losses, or have knowledge that will assist the firm's investigation, submit your losses now »

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