Coastal Financial faces class action over CCBX loan losses

A class action lawsuit alleges Coastal Financial misled investors about the credit quality of its CCBX partner loan portfolio. The company reported a surprise $42.1 million net loss on July 30, 2026, driven by a $68.8 million credit expense tied to a single partner. The stock fell $30.75 per share, erasing about $470 million in market cap. Lead plaintiff deadline is December 1, 2026.