Lead Plaintiff Deadline December 1, 2026
NEW YORK, Oct. 14, 2026 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP ("Wolf Haldenstein"), a nationally recognized securities litigation law firm, announces that a class action lawsuit has been filed against Coastal Financial Corporation ("Coastal Financial" or the "Company") (NASDAQ: CCB) on behalf of investors that purchased or otherwise acquired Coastal Financial common stock between October 28, 2024 and July 29, 2026 (the Class Period).
Investors who purchased Coastal Financial shares during the class period and suffered losses may be eligible to participate in the case, with the lead-plaintiff deadline set for December 1, 2026
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The filed complaint alleges that Coastal and the individual Defendants made false and misleading statements and failed to disclose that
- the credit quality of a substantial CCBX partner loan portfolio, comprising approximately $500 million in loans and nearly 23% of all CCBX loans, had materially deteriorated;
- as a result of that deterioration, Coastal faced significant exposure to credit losses notwithstanding Defendants repeated representations concerning the credit protections provided by its CCBX partner agreements; and
- Coastal's risk management and credit monitoring practices were inadequate to identify, adequately account for, and mitigate the deterioration of the CCBX partner loan portfolio and the resulting risks to Coastal.
On July 30, 2026, according to the filed complaint, Coastal announced its second quarter 2026 financial results, reporting a GAAP net loss of $42.1 million, driven primarily by a $68.8 million credit expense related to a single CCBX partner relationship.
Subsequent to this news, the price of Coastal stock fell $30.75 per share, or 43.5%, to close at $39.91 per share on July 30, 2026.
This illustrious firm, founded in 1888, is steadfast in their pursuit of justice for investors who have suffered financial harm due to these misrepresented statements. The law firm brings to the fore over 125 years of legal expertise in securities litigation and has a proven record of protecting the rights of investors.
We encourage all investors who have been affected or have information that will assist in our investigation, to contact Wolf Haldenstein Adler Freeman & Herz LLP.
There is no cost or obligation to speak with an attorney.
Contact:
- Phone: (800) 575-0735 or (212) 545-4774
- Email: classmember@whafh.com
- Contact Person: Gregory Stone, Director of Case and Financial Analysis
Firm Website: Wolf Haldenstein Adler Freeman & Herz LLP
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SOURCE Wolf Haldenstein Adler Freeman & Herz LLP
