The law firm of Kirby McInerney LLP reminds investors of its investigation on behalf of Coastal Financial Corporation (“Coastal” or the “Company”) (NASDAQ: CCB) investors concerning the Company’s and/or members of its senior management’s possible violation of the federal securities laws or other unlawful business practices.
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What Happened?
On July 30, 2026, Coastal announced second quarter 2026 financial results, including a net loss of $42.1 million, or $(2.76) per diluted common share for the quarter, compared to net income of $12.0 million, or $0.78 per diluted common share in the prior quarter. The Company stated the “net loss is primarily attributable to a $68.8 million credit expense related to a single, isolated CCBX partner relationship.”
On this news, shares of the Coastal fell as much as $30.75 per share, or 43.5%, to close at $39.91 per share on July 30, 2026.
What Should I Do?
At this stage, no lawsuit has been filed. The investigation is ongoing to determine whether claims may be brought under federal securities laws.
If you purchased or otherwise acquired Coastal securities, have information, or would like to learn more about this investigation, please contact Lauren Molinaro of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below, to discuss your rights or interests with respect to these matters at no cost.
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Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260813049978/en/
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