Coastal Financial Corporation faces securities litigation
Schall, Brown & Schwartz LLP has initiated a class action lawsuit against Coastal Financial Corporation, alleging the firm provided misleading information to shareholders.
Shareholder rights litigation firm Schall, Brown & Schwartz LLP (SBS) has reminded investors of a pending class action lawsuit against Coastal Financial Corporation (CCB). The litigation covers the period between October 28, 2024, and July 29, 2026.
The complaint alleges that Coastal made false or misleading statements regarding the health of its CCBX loan portfolio. Specifically, the plaintiffs contend that the firm understated credit risks associated with approximately 23% of its CCBX division loans and failed to maintain robust risk management and monitoring practices.
Investors who purchased shares during the specified class period may apply for lead plaintiff status. The deadline for potential class members to register their interest is December 1, 2026. The lawsuit centers on alleged violations of sections 10(b) and 20(a) of the Securities Exchange Act of 1934.