New York, New York--(Newsfile Corp. - October 6, 2026) - Kaplan Fox & Kilsheimer LLP 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").

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If you are an investor in Coastal Financial and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.

DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than December 1, 2026 for an opportunity to be lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery.

On July 30, 2026, according to the 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. Following 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.

The complaint alleges that Coastal and the individual Defendants made false and misleading statements and failed to disclose 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."

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Kaplan Fox & Kilsheimer LLP is a nationally recognized law firm focused on complex litigation, with offices in New York, Oakland, Los Angeles, Chicago, and New Jersey. Founded in 1956, the firm has spent more than 50 years prosecuting securities, antitrust, and consumer protection actions in federal and state courts nationwide, recovering more than $10 billion for clients and the classes it has represented.

Kaplan Fox is widely regarded as one of the nation's premier plaintiffs' securities litigation firms and has received recognition from Chambers and Partners, Benchmark Litigation, Super Lawyers, and Lawdragon. Serving as lead or co-lead counsel in many landmark cases, the firm has secured some of the largest recoveries in the history of securities litigation, including a $2.425 billion recovery on behalf of Bank of America shareholders in In re Bank of America—the largest recovery ever obtained for claims under Section 14(a) of the Securities Exchange Act—$800 million recovered for the Arkansas Teacher Retirement System and other pension funds in ATRS v. Allianz Global Investors, and a $475 million settlement in In re Merrill Lynch.

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https://www.kaplanfox.com/case/coastal-financial-ccb-class-action/

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Source: Kaplan Fox & Kilsheimer LLP