{"success":true,"data":{"pressRelease":{"id":"165674","rtpr_id":"nGNXbzSLVj-20261009","ticker":"CCB","exchange":"NASDAQ","all_tickers":["CCB"],"title":"Coastal Financial Corporation (CCB) Alert: Securities Class Action Filed, Investors with Losses Encouraged to Contact Hagens Berman Before December 1, 2026 Lead Plaintiff Deadline","author":"Globe Newswire","published_at":"2026-10-09T17:41:24.106Z","article_body":"SAN FRANCISCO, Oct. 09, 2026 (GLOBE NEWSWIRE) -- Coastal Financial Corporation\n(NASDAQ: CCB) faces a securities class action lawsuit that seeks to represent\ninvestors who purchased or otherwise acquired shares of Coastal common stock\nbetween October 28, 2024 and July 29, 2026.\n\nThe lawsuit follows a 43% single-day stock plunge triggered by a massive\nprovision for credit losses and unexpected valuation adjustments within its\ncore CCBX Banking-as-a-Service (BaaS) segment.\n\nNational shareholders rights firm Hagens Berman continues its investigation\ninto claims that Coastal was not sufficiently transparent about credit risk\nmanagement practices and therefore violated federal securities laws.\n\nHagens Berman urges Coastal investors who suffered substantial financial\nlosses to submit their trading information\n(https://www.globenewswire.com/Tracker?data=6Kr-APfmW1W4yhAuXy7AcoTf8dWurrN3b4QZrIAin0nzGj_tnTlusLmxhpFp10VQenKZRd7HGe9X-CFSsefc_0O1R1Qa8inXFJN27asthTw7IJF1l_E3JUncKqomR1sfpq-J81QKmzJFPDjMwu8-KNu-OYFkNI6n-2IggF0WFXHnsi0FdQTmmKF7pbwtpDtnjy47MZT-WxzXEpLwB8cwQg==)\nbefore the Lead Plaintiff deadline. Whistleblowers and insiders with\nnon-public knowledge regarding Coastal Financial’s loan underwriting,\npartner risk oversight, or internal controls are also invited to contact the\nfirm.\n* Class Period: Oct. 28, 2024 – July 29, 2026\n* Lead Plaintiff Deadline: Dec. 1, 2026\n* Visit: www.hbsslaw.com/ccb\n* Contact Email: CCB@hbsslaw.com\n* Direct Firm Phone: 844-916-0895\nCoastal Financial Corporation (CCB) Securities Class Action Overview:\n\nThe litigation focuses on Coastal’s repeated touting of growth in its CCBX\nBaaS segment and assurances that it pursued such growth in a disciplined\nmanner with a focus on effective risk management and credit quality.\n\nFor example, Coastal’s assurances during the Class Period included\nstatements such as “we continue to make strategic decisions which are\nenhancing credit quality,” “our strategy involves selectively expanding\nour current base of CCBX partners while continuing to invest in and enhance\nour technology and risk management infrastructure[,]” and the company\nremained “fully indemnified against fraud and 98.8% indemnified against\ncredit risk with our CCBX partners[.]”\n\nThe complaint alleges that these and other statements during the Class Period\nwere misleading because the company did not disclose that the credit quality\nof a substantial CCBX partner portfolio, comprising roughly $500 million in\nloans and nearly 23% of all CCBX loans, had materially deteriorated. In turn,\nCoastal faced significant exposure to credit losses because the company’s\nrisk management and credit monitoring were inadequate to identify, properly\naccount for, and mitigate the deterioration of that portfolio.\n\nThe Truth Comes to Light on July 30, 2026 - Q2 2026 Disclosures Triggers 43%\nShare Collapse\n\nThe true effectiveness of Coastal’s credit risk management and internal\ncontrols was revealed on July 30, 2026, when the company reported its Q2 2026\nfinancial results:\n* Significant Financial Loss: Coastal posted a net loss of $42.1 million (or\n-$2.76 per diluted share), drastically missing consensus profit estimates.\n\n\n* Rising Credit Expenses: The losses were driven overwhelmingly by $68.8\nmillion in pre-tax charges tied to a single CCBX partner relationship and\nassociated consumer loan portfolios, including a $46 million valuation\nadjustment to credit enhancement assets and a $22.8 million spike in credit\nloss provisions.\n\n\n* CFO Departure: Compounding market instability, the company announced the\nimpending departure of its Chief Financial Officer just ahead of the earnings\nrelease.\n\n\n* Immediate Stock Decline: CCB shares crashed $30.75 per share, or 43.5%, in a\nsingle trading session, dropping from a close of $70.66 to close at $39.91 on\nheavy volume.\n“We’re focused on when Coastal first detected this single partner problem\nand whether it may have misled investors about the effectiveness of its\ninitial underwriting and ongoing credit risk management,” said Reed Kathrein\n(https://www.globenewswire.com/Tracker?data=kweb1opOI9FlPr-Z7gH__HIXlY2LOWjnuP_TbMeL7ajklbMpJi9WfuRxKgdUHsEWg3jjDQp7BLQNeRLksJwv8EelrKdkHObrGgzzIcs5via1V-SvNdvhwbTdKxp9jDiI),\nthe Hagens Berman partner leading the firm’s investigation.\n\nIf you invested in Coastal Financial and have substantial losses, or have\nknowledge that will assist the firm’s investigation, submit your losses now\n(https://www.globenewswire.com/Tracker?data=6Kr-APfmW1W4yhAuXy7Acr5Sok9pG4dlyOxojX42XP8V9FAZoyZ5QwnUnkUIERRmjaPprua2go-_04hU1OIMgBIOuzoA1l1rW0j47gsSEGP2fWmYST8gh4iPLSIBcx7kPG_W5zmAfLtEwAzWOUsEqFmiy8eYYzPbJQxiWjEvNPCU6a_DbX0XLEceb5vC-WJ5)\n»\n\nWhistleblowers: Persons with non-public information regarding Coastal\nFinancial should consider their options to help in the investigation or take\nadvantage of the SEC Whistleblower program. Under the new program,\nwhistleblowers who provide original information may receive rewards totaling\nup to 30 percent of any successful recovery made by the SEC. For more\ninformation, call Reed Kathrein at 844-916-0895 or email CCB@hbsslaw.com.\n\nAbout Hagens Berman\n(https://www.globenewswire.com/Tracker?data=oUri5_sF3nsjrCnKbfoR4-qkxAr1MWga9p4IFUNYySqBwOHRLm2Vnqdo2U6fRt4NT04tSP6791IOxAfcE-i_zkLNTaXR6MlXkkmqgLe_wk0=)\nHagens Berman is a global plaintiffs’ rights complex litigation firm\nfocusing on corporate accountability. The firm is home to a robust practice\nand represents investors as well as whistleblowers, workers, consumers and\nothers in cases achieving real results for those harmed by corporate\nnegligence and other wrongdoings. Hagens Berman’s team has secured more than\n$2.9 billion in this area of law. More about the firm and its successes can be\nfound at hbsslaw.com\n(https://www.globenewswire.com/Tracker?data=gJ8uUzkWJSO5CF9x4_2sjg1thnN7KGBTXi2u50JsQNn41nnbBN_G6cmthrV3rkwvEoj3SYI6seIZj3JkfhcmsA==).\nFollow the firm for updates and news at @ClassActionLaw. \n\nAttorney Advertising. Prior results do not guarantee a similar outcome in any\nfuture case.\n\nContact: Hagens Berman, Reed Kathrein, 715 Hearst Avenue, Suite 300,\nBerkeley, CA 94710, 844-916-0895, CCB@hbsslaw.com\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/2c81cd72-0ffb-43c9-9d0f-b622c3e44e43)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNXbzSLVj-20261009","title":"Coastal Financial Corporation (CCB) Alert: Securities Class Action Filed, Investors with Losses Encouraged to Contact Hagens Berman Before December 1, 2026 Lead Plaintiff Deadline","author":"Globe Newswire","ticker":"CCB","created":"2026-10-09T17:41:24.106Z","tickers":["CCB"],"exchange":"NASDAQ","article_body":"SAN FRANCISCO, Oct. 09, 2026 (GLOBE NEWSWIRE) -- Coastal Financial Corporation\n(NASDAQ: CCB) faces a securities class action lawsuit that seeks to represent\ninvestors who purchased or otherwise acquired shares of Coastal common stock\nbetween October 28, 2024 and July 29, 2026.\n\nThe lawsuit follows a 43% single-day stock plunge triggered by a massive\nprovision for credit losses and unexpected valuation adjustments within its\ncore CCBX Banking-as-a-Service (BaaS) segment.\n\nNational shareholders rights firm Hagens Berman continues its investigation\ninto claims that Coastal was not sufficiently transparent about credit risk\nmanagement practices and therefore violated federal securities laws.\n\nHagens Berman urges Coastal investors who suffered substantial financial\nlosses to submit their trading information\n(https://www.globenewswire.com/Tracker?data=6Kr-APfmW1W4yhAuXy7AcoTf8dWurrN3b4QZrIAin0nzGj_tnTlusLmxhpFp10VQenKZRd7HGe9X-CFSsefc_0O1R1Qa8inXFJN27asthTw7IJF1l_E3JUncKqomR1sfpq-J81QKmzJFPDjMwu8-KNu-OYFkNI6n-2IggF0WFXHnsi0FdQTmmKF7pbwtpDtnjy47MZT-WxzXEpLwB8cwQg==)\nbefore the Lead Plaintiff deadline. Whistleblowers and insiders with\nnon-public knowledge regarding Coastal Financial’s loan underwriting,\npartner risk oversight, or internal controls are also invited to contact the\nfirm.\n* Class Period: Oct. 28, 2024 – July 29, 2026\n* Lead Plaintiff Deadline: Dec. 1, 2026\n* Visit: www.hbsslaw.com/ccb\n* Contact Email: CCB@hbsslaw.com\n* Direct Firm Phone: 844-916-0895\nCoastal Financial Corporation (CCB) Securities Class Action Overview:\n\nThe litigation focuses on Coastal’s repeated touting of growth in its CCBX\nBaaS segment and assurances that it pursued such growth in a disciplined\nmanner with a focus on effective risk management and credit quality.\n\nFor example, Coastal’s assurances during the Class Period included\nstatements such as “we continue to make strategic decisions which are\nenhancing credit quality,” “our strategy involves selectively expanding\nour current base of CCBX partners while continuing to invest in and enhance\nour technology and risk management infrastructure[,]” and the company\nremained “fully indemnified against fraud and 98.8% indemnified against\ncredit risk with our CCBX partners[.]”\n\nThe complaint alleges that these and other statements during the Class Period\nwere misleading because the company did not disclose that the credit quality\nof a substantial CCBX partner portfolio, comprising roughly $500 million in\nloans and nearly 23% of all CCBX loans, had materially deteriorated. In turn,\nCoastal faced significant exposure to credit losses because the company’s\nrisk management and credit monitoring were inadequate to identify, properly\naccount for, and mitigate the deterioration of that portfolio.\n\nThe Truth Comes to Light on July 30, 2026 - Q2 2026 Disclosures Triggers 43%\nShare Collapse\n\nThe true effectiveness of Coastal’s credit risk management and internal\ncontrols was revealed on July 30, 2026, when the company reported its Q2 2026\nfinancial results:\n* Significant Financial Loss: Coastal posted a net loss of $42.1 million (or\n-$2.76 per diluted share), drastically missing consensus profit estimates.\n\n\n* Rising Credit Expenses: The losses were driven overwhelmingly by $68.8\nmillion in pre-tax charges tied to a single CCBX partner relationship and\nassociated consumer loan portfolios, including a $46 million valuation\nadjustment to credit enhancement assets and a $22.8 million spike in credit\nloss provisions.\n\n\n* CFO Departure: Compounding market instability, the company announced the\nimpending departure of its Chief Financial Officer just ahead of the earnings\nrelease.\n\n\n* Immediate Stock Decline: CCB shares crashed $30.75 per share, or 43.5%, in a\nsingle trading session, dropping from a close of $70.66 to close at $39.91 on\nheavy volume.\n“We’re focused on when Coastal first detected this single partner problem\nand whether it may have misled investors about the effectiveness of its\ninitial underwriting and ongoing credit risk management,” said Reed Kathrein\n(https://www.globenewswire.com/Tracker?data=kweb1opOI9FlPr-Z7gH__HIXlY2LOWjnuP_TbMeL7ajklbMpJi9WfuRxKgdUHsEWg3jjDQp7BLQNeRLksJwv8EelrKdkHObrGgzzIcs5via1V-SvNdvhwbTdKxp9jDiI),\nthe Hagens Berman partner leading the firm’s investigation.\n\nIf you invested in Coastal Financial and have substantial losses, or have\nknowledge that will assist the firm’s investigation, submit your losses now\n(https://www.globenewswire.com/Tracker?data=6Kr-APfmW1W4yhAuXy7Acr5Sok9pG4dlyOxojX42XP8V9FAZoyZ5QwnUnkUIERRmjaPprua2go-_04hU1OIMgBIOuzoA1l1rW0j47gsSEGP2fWmYST8gh4iPLSIBcx7kPG_W5zmAfLtEwAzWOUsEqFmiy8eYYzPbJQxiWjEvNPCU6a_DbX0XLEceb5vC-WJ5)\n»\n\nWhistleblowers: Persons with non-public information regarding Coastal\nFinancial should consider their options to help in the investigation or take\nadvantage of the SEC Whistleblower program. Under the new program,\nwhistleblowers who provide original information may receive rewards totaling\nup to 30 percent of any successful recovery made by the SEC. For more\ninformation, call Reed Kathrein at 844-916-0895 or email CCB@hbsslaw.com.\n\nAbout Hagens Berman\n(https://www.globenewswire.com/Tracker?data=oUri5_sF3nsjrCnKbfoR4-qkxAr1MWga9p4IFUNYySqBwOHRLm2Vnqdo2U6fRt4NT04tSP6791IOxAfcE-i_zkLNTaXR6MlXkkmqgLe_wk0=)\nHagens Berman is a global plaintiffs’ rights complex litigation firm\nfocusing on corporate accountability. The firm is home to a robust practice\nand represents investors as well as whistleblowers, workers, consumers and\nothers in cases achieving real results for those harmed by corporate\nnegligence and other wrongdoings. Hagens Berman’s team has secured more than\n$2.9 billion in this area of law. More about the firm and its successes can be\nfound at hbsslaw.com\n(https://www.globenewswire.com/Tracker?data=gJ8uUzkWJSO5CF9x4_2sjg1thnN7KGBTXi2u50JsQNn41nnbBN_G6cmthrV3rkwvEoj3SYI6seIZj3JkfhcmsA==).\nFollow the firm for updates and news at @ClassActionLaw. \n\nAttorney Advertising. Prior results do not guarantee a similar outcome in any\nfuture case.\n\nContact: Hagens Berman, Reed Kathrein, 715 Hearst Avenue, Suite 300,\nBerkeley, CA 94710, 844-916-0895, CCB@hbsslaw.com\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/2c81cd72-0ffb-43c9-9d0f-b622c3e44e43)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-10-09T17:41:24.156018816Z","server_sent_at_ms":1791567684156},"received_at":"2026-10-09T17:41:24.207Z","source_url":null},"analysis":{"id":"154062","press_release_id":"165674","analysis_json":{"industry":{"label":"Banks","sector":"Financials"},"redFlags":["active securities class action alleging inadequate credit-risk disclosure in the CCBX BaaS segment","previously disclosed 43.5% single-day share collapse and CFO departure near earnings"],"eventType":"legal_litigation","narrative":"Hagens Berman announced a securities class action against Coastal Financial Corporation (NASDAQ: CCB) covering investors who bought shares between October 28, 2024 and July 29, 2026, with a lead plaintiff deadline of December 1, 2026.\n\nThe suit alleges Coastal misled investors about credit risk management in its CCBX Banking-as-a-Service segment before a Q2 2026 disclosure of $68.8 million in pre-tax charges tied to one CCBX partner, driving a 43.5% single-day share collapse from $70.66 to $39.91.\n\nThis release is law-firm solicitation rather than new issuer disclosure — the loss, charges, and CFO departure were already public — so treat it as low-signal noise, though it confirms active securities litigation.","sentiment":"neutral","agentHooks":{"shouldPost":false,"suggestedAngle":"Plaintiff-firm class-action solicitation referencing already-disclosed Q2 charges — suppress or file as litigation-context only."},"keyFigures":{"customDimensions":{"net_loss":"$42.1 million","pre_tax_charges":"$68.8 million","class_period_end":"July 29, 2026","class_period_start":"Oct. 28, 2024","lead_plaintiff_deadline":"Dec. 1, 2026","single_day_stock_decline_pct":"43.5%"}},"quotedText":"We’re focused on when Coastal first detected this single partner problem and whether it may have misled investors about the effectiveness of its initial underwriting and ongoing credit risk management","namedEntities":{"people":[{"name":"Reed Kathrein","role":"Hagens Berman partner leading investigation"}],"products":["CCBX Banking-as-a-Service"],"companies":[{"name":"Coastal Financial Corporation","ticker":"CCB","relationship":"target of class action"},{"name":"Hagens Berman","relationship":"plaintiff law firm"}],"dollarAmounts":[{"amount":"$42.1 million","context":"Q2 2026 net loss (or -$2.76 per diluted share)"},{"amount":"$68.8 million","context":"pre-tax charges tied to a single CCBX partner relationship"},{"amount":"$46 million","context":"valuation adjustment to credit enhancement assets"},{"amount":"$22.8 million","context":"spike in credit loss provisions"},{"amount":"$500 million","context":"deteriorated CCBX partner loan portfolio"}]},"materialImpact":{"score":1,"reasoning":"Plaintiff law-firm solicitation issued by Hagens Berman, not an issuer disclosure. No certified class or settlement announced; the underlying stock collapse and Q2 loss were previously disclosed events."},"tickerRelevance":{"others":[],"primary":"CCB"},"globalImportance":15,"audienceRelevance":12,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"small-cap","eventGravity":"law-firm-solicitation","issuerAuthored":false,"underlyingSeverity":"high but previously disclosed"}},"event_type":"legal_litigation","event_type_secondary":null,"sentiment":"neutral","material_impact_score":1,"narrative":"Hagens Berman announced a securities class action against Coastal Financial Corporation (NASDAQ: CCB) covering investors who bought shares between October 28, 2024 and July 29, 2026, with a lead plaintiff deadline of December 1, 2026.\n\nThe suit alleges Coastal misled investors about credit risk management in its CCBX Banking-as-a-Service segment before a Q2 2026 disclosure of $68.8 million in pre-tax charges tied to one CCBX partner, driving a 43.5% single-day share collapse from $70.66 to $39.91.\n\nThis release is law-firm solicitation rather than new issuer disclosure — the loss, charges, and CFO departure were already public — so treat it as low-signal noise, though it confirms active securities litigation.","key_figures":{"customDimensions":{"net_loss":"$42.1 million","pre_tax_charges":"$68.8 million","class_period_end":"July 29, 2026","class_period_start":"Oct. 28, 2024","lead_plaintiff_deadline":"Dec. 1, 2026","single_day_stock_decline_pct":"43.5%"}},"named_entities":{"people":[{"name":"Reed Kathrein","role":"Hagens Berman partner leading investigation"}],"products":["CCBX Banking-as-a-Service"],"companies":[{"name":"Coastal Financial Corporation","ticker":"CCB","relationship":"target of class action"},{"name":"Hagens Berman","relationship":"plaintiff law firm"}],"dollarAmounts":[{"amount":"$42.1 million","context":"Q2 2026 net loss (or -$2.76 per diluted share)"},{"amount":"$68.8 million","context":"pre-tax charges tied to a single CCBX partner relationship"},{"amount":"$46 million","context":"valuation adjustment to credit enhancement assets"},{"amount":"$22.8 million","context":"spike in credit loss provisions"},{"amount":"$500 million","context":"deteriorated CCBX partner loan portfolio"}]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:5c812bd9e28b810d","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-10-09T17:41:29.599Z","global_importance":15,"audience_relevance":12,"importance_components":{"tickerTier":"small-cap","eventGravity":"law-firm-solicitation","issuerAuthored":false,"underlyingSeverity":"high but previously disclosed"}},"durationMs":5366,"modelName":"glm-5.3-flashx"}}