LOS ANGELES, Oct. 14, 2026 /PRNewswire/ -- Glancy Prongay Wolke & Rotter LLP announces that investors with losses have opportunity to lead the securities fraud class action lawsuit against Coastal Financial Corporation.
IF YOU SUFFERED A LOSS ON YOUR COASTAL FINANCIAL CORPORATION INVESTMENTS, CLICK HERE BEFORE DECEMBER 1, 2026 (LEAD PLAINTIFF DEADLINE) TO PARTICIPATE IN THE SECURITIES FRAUD LAWSUIT
What Is The Lawsuit About?
The complaint filed in this class action alleges that between October 28, 2024 and July 29, 2026, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (i) 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; (ii) 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 (iii) 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; and (iv) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
What's The Next Step?
Glancy Prongay Wolke & Rotter LLP is a leading national shareholder rights law firm, ready to assist you in potentially pursuing claims to recover your loss.
If you wish to serve as lead plaintiff, you must move the Court no later than December 1, 2026. Please contact us to learn more about your rights and interests by clicking here, by email (shareholders@glancylaw.com), or by telephone at 310-201-9150 (Toll-Free: 888-773-9224).
You may retain counsel of your choice. If you bought securities during the class period, you may take no action and remain an absent class member. No class has been certified yet.
Why Glancy Prongay Wolke & Rotter LLP?
GPWR is a premier law firm with decades of experience representing investors and consumers in securities litigation and other complex class action litigation. Recognizing the firm's recent successes, GPWR was named one of Law360's Securities Groups of the Year and ranked 2nd in total investor recoveries by Institutional Shareholder Services Securities Class Action Services in 2025. GPWR's lawyers have handled cases covering a wide spectrum of corporate misconduct and relating to nearly all industries and sectors. GPWR's past successes have been widely covered by leading news and industry publications such as The Wall Street Journal, The Financial Times, Bloomberg Businessweek, Reuters, the Associated Press, Barron's, Investor's Business Daily, Forbes, and Money. Prior results do not guarantee a similar outcome.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contact Us:
Glancy Prongay Wolke & Rotter LLP,
1925 Century Park East, Suite 2100,
Los Angeles, CA 90067
Charles H. Linehan
Email: shareholders@glancylaw.com
Telephone: 310-201-9150
Toll-Free: 888-773-9224
Visit our website at: www.glancylaw.com.
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SOURCE Glancy Prongay Wolke & Rotter LLP
