INVESTOR ACTION NOTICE: Moore Law PLLC Encourages Investors in Coastal Financial Corporation to Contact Law Firm
INVESTOR ACTION NOTICE: Moore Law PLLC Encourages Investors in Coastal Financial Corporation to Contact Law Firm
PR Newswire
NEW YORK, Oct. 20, 2026
- Coastal Financial Corporation (NASDAQ: CCB) shareholders should email fletcher@fmoorelaw.com
NEW YORK, Oct. 20, 2026 /PRNewswire/ --
What is the Investigation About?
On July 30, 2026, before the market opened, Coastal Financial reported a second-quarter net loss of $42.1 million, driven primarily by a $68.8 million credit expense associated with a single CCBX partner relationship.
Following this news, the price of Coastal Financial stock fell $30.75 per share, or 43.5%, to close at $39.91 per share on July 30, 2026.
During the accompanying earnings call, management disclosed that the credit expense included a $46 million valuation adjustment to a related credit enhancement asset and a $22.8 million provision for credit losses tied to the partner's indemnification obligations. The affected portfolio comprised approximately $500 million in underlying loans. These disclosures followed Coastal Financial's prior representations emphasizing disciplined growth, credit quality, and substantial protection against credit losses through its partner agreements.
If you own Coastal Financial Corporation (NASDAQ: CCB) securities, please contact Fletcher Moore at fletcher@fmoorelaw.com.
You may be able to seek monetary damages, corporate governance reforms, reimbursement to the company, and a court approved incentive award at no cost to you whatsoever. All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
MOORE LAW PLLC
30 Wall Street, 8th Floor
New York, NY 10005
fletcher@fmoorelaw.com
www.fmoorelaw.com
SOURCE Moore Law PLLC
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