Coastal Financial Faces Securities Class Action

Investors have filed a securities class action against Coastal Financial over alleged misleading statements about the condition of a major CCBX partner loan portfolio and the company’s ability to manage related credit risks. The complaint alleges that a roughly $500 million portfolio—about 23% of CCBX loans—had materially deteriorated, exposing Coastal to losses despite its statements about contractual credit protections and risk monitoring. After Coastal reported a $42.1 million second-quarter 2026 net loss, including a $68.8 million credit expense tied to one partner relationship, its stock fell 43.5% on July 30, 2026. The proposed class covers investors who bought Coastal common stock from October 28, 2024, through July 29, 2026; the lead-plaintiff deadline is December 1, 2026.