Law firm probes Coastal Financial after stock's 43% one-day drop

Kaplan Fox & Kilsheimer LLP is investigating whether Coastal Financial Corporation violated federal securities laws in connection with its second-quarter 2026 results. Coastal reported a $42.1 million net loss, compared with $12 million in net income in the prior quarter, attributing the loss primarily to a $68.8 million credit expense tied to a single CCBX partner relationship. Coastal’s stock fell $30.75, or 43.5%, to $39.91 on July 30 after the disclosure. The law firm is seeking information from investors who suffered losses, though the investigation’s allegations have not been proven.