Coastal Financial Corporation (NASDAQ: CCB)

This lawsuit is for anyone who acquired securities in Coastal Financial Corporation (NASDAQ: CCB) from October 28, 2024 through July 29, 2026.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by failing to timely disclose to investors that one of the Company’s partners would be unable to pay the Company back a large loan.

On July 30, 2026, Coastal announced second quarter 2026 financial results, including a net loss of $42.1 million, or $(2.76) per diluted common share for the quarter, compared to net income of $12.0 million, or $0.78 per diluted common share in the prior quarter. The Company stated the “net loss is primarily attributable to a $68.8 million credit expense related to a single, isolated CCBX partner relationship.” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Coastal Financial Corporation (NASDAQ: CCB) from October 28, 2024 through July 29, 2026 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.