Coastal Financial securities class action alleges misleading credit risk disclosures

A securities class action lawsuit has been filed against Coastal Financial Corporation (CCB) over alleged misleading statements about credit risk in its CCBX Banking-as-a-Service segment. The class period is October 28, 2024 to July 29, 2026. The lawsuit follows a 43% stock drop on July 30, 2026 after Q2 results revealed a $42.1 million net loss and $68.8 million in charges from a single CCBX partner. Lead plaintiff deadline is December 1, 2026.