Attention Long-Term Shareholders of American Express Company (NYSE: AXP); Coastal Financial Corporation (NASDAQ: CCB); Duolingo, Inc. (NASDAQ: DUOL); and Erasca, Inc. (NASDAQ: ERAS): Grabar Law Office is Investigating Claims on Your Behalf
PHILADELPHIA, Oct. 12, 2026 (GLOBE NEWSWIRE) --
American Express Company (NYSE: AXP):
Current American Express Company (NYSE: AXP) shareholders who have held American Express shares continuously since prior to June 2014 are encouraged to visit https://grabarlaw.com/the-latest/axp-shareholder-investigation/, contact Joshua Grabar of Grabar Law Office at jgrabar@grabarlaw.com, or call 267-587-8085 to learn more about the investigation. You can seek corporate governance reforms, recovery of losses sustained by the Company, and a court approved incentive award at absolutely no cost to you whatsoever.
What is Happening? Grabar Law Office is investigating claims on behalf of long-term shareholders of American Express Company (NYSE: AXP) concerning whether certain officers and directors breached fiduciary duties owed to the Company in connection with alleged deficiencies in the Bank Secrecy Act and anti-money laundering compliance program of its banking subsidiary, American Express National Bank.
Why? On October 8, 2026, the Office of the Comptroller of the Currency (“OCC”) issued a Consent Order against American Express National Bank relating to deficiencies in the Bank’s Bank Secrecy Act/anti-money laundering (“BSA/AML”) compliance program. The OCC stated that the deficiencies resulted in violations involving the Bank’s BSA/AML program, suspicious activity reporting, customer due diligence, and customer identification procedures.
According to the OCC, the Bank failed to establish and maintain a reasonably designed BSA/AML compliance program and had systemic internal-control gaps, weaknesses in independent testing, and deficiencies in BSA/AML training. The OCC further identified deficiencies relating to customer due diligence, customer identification procedures, suspicious-activity monitoring and reporting, internal audit, staffing and training.
OCC Identifies Approximately $13 Billion in Suspected Trade-Based Money Laundering Activity: Of particular significance, the OCC found that deficiencies in the Bank’s BSA/AML compliance program contributed to its failure to timely identify, evaluate and sufficiently report suspicious activity associated with suspected trade-based money laundering (“TBML”).
According to the OCC:
From approximately June 2014 through approximately May 2025, American Express National Bank processed approximately $13 billion in suspected TBML activity, including suspicious card charges and repayments of those charges.
The OCC further stated that some of this activity occurred through accounts associated with Bank insiders, and that although the Bank periodically reported suspicious activity during this period, it lacked the internal controls and monitoring capabilities necessary to timely identify and report the full scope of the activity.
The OCC found that these deficiencies resulted in violations of BSA/AML-related regulations and stated that the violations were part of a pattern of misconduct and caused more than a minimal loss to the Bank.
OCC Requires Significant Remedial Measures and Board Oversight: The Consent Order requires American Express National Bank to undertake substantial corrective measures, including, among other things, the Bank must establish a compliance committee to oversee compliance with the Order and provide detailed quarterly reports to the Board concerning required and completed corrective actions.
The Bank also must develop a written action plan addressing the identified deficiencies and establish or enhance programs governing:
The Order further directs the Board to ensure that the required corrective actions are implemented and effective and to hold Bank management and personnel accountable for carrying out their responsibilities under the Order.
What Can Long-Term American Express Shareholders Do? Current long-term American Express Company (NYSE: AXP) shareholders who have continuously held shares since prior to June 2014, you are encouraged to visit https://grabarlaw.com/the-latest/axp-shareholder-investigation/, contact Joshua Grabar at jgrabar@grabarlaw.com, or call 267-507-6085. You can pursue claims on behalf of the Company seeking corporate governance reforms, recovery of losses sustained by the Company, the return of compensation or other benefits where appropriate, at no cost to you whatsoever. #AXP $AXP
Coastal Financial Corporation (NASDAQ: CCB):
Grabar Law Office is investigating claims on behalf of shareholders of Coastal Financial Corporation (NASDAQ: CCB).
What is This Investigation About? This investigation concerns possible breaches of fiduciary duties and other alleged misconduct by certain officers and directors of the Company.
Current Coastal Financial Corporation (NASDAQ: CCB) shareholders who have held Coastal shares since prior to October 28, 2024, are encouraged visit https://grabarlaw.com/the-latest/coastal-shareholder-investigation/, contact Joshua Grabar at jgrabar@grabarlaw.com, or call 267-507-6085. You can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to you whatsoever.
What is Alleged? A recently filed federal securities fraud class action alleges that Coastal Financial Corporation (NASDAQ: CCB), through certain of its current and former executives, made materially false and misleading statements concerning the growth and credit quality of Coastal’s CCBX business, the adequacy of the Company’s risk-management and credit-monitoring practices, and the credit protections provided by CCBX partner indemnification agreements.
Specifically, that complaint alleges that, while Coastal represented that CCBX growth was being pursued in a disciplined manner with an emphasis on credit quality and risk management, defendants failed to disclose that: 1) the credit quality of a substantial CCBX partner loan portfolio consisting of approximately $500 million in loans, or nearly 23% of all CCBX loans, had materially deteriorated; 2) the deterioration exposed Coastal to significant credit losses despite representations concerning the protections provided by CCBX partner indemnification agreements; and 3) Coastal’s risk-management and credit-monitoring practices were allegedly inadequate to identify, properly account for and mitigate the deterioration and resulting risks.
The underlying complaint further alleges that Coastal repeatedly emphasized its investment in risk management and its contractual protection from CCBX credit losses. For example, in April 2025 Coastal represented that it remained fully indemnified against fraud and 98.8% indemnified against credit risk with its CCBX partners, and the Company made a similar representation as of March 31, 2026. Then, on July 30, 2026, Coastal announced its second-quarter 2026 financial results and reported a surprise GAAP net loss of $42.1 million, driven primarily by a $68.8 million credit expense associated with a single CCBX partner relationship. According to the complaint, the $68.8 million expense consisted of: 1) a $46 million valuation adjustment to the related credit-enhancement asset; and 2) a $22.8 million provision for credit losses associated with the partner’s indemnification obligations.
It is further alleged that Coastal also disclosed that the affected portfolio consisted of approximately $500 million in underlying loans, together with the related reimbursement exposure. Following these disclosures, Coastal common stock fell $30.75 per share, or 43.5%, closing at $39.91 per share on July 30, 2026. According to the complaint, the decline erased approximately $470 million in market capitalization.
The complaint additionally alleges that Chief Executive Officer Eric M. Sprink sold approximately $12 million of Coastal common stock during the Class Period, while former CFO Joel Edwards sold approximately $3.8 million. It is alleged that those sales occurred before the deterioration of the CCBX partner portfolio and Coastal’s resulting exposure were disclosed to investors.
What Can You Do Now? If you have owned Coastal Financial Corporation (NASDAQ: CCB) shares since prior to October 28, 2024, you can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to you whatsoever. Please visit https://grabarlaw.com/the-latest/coastal-shareholder-investigation/, contact Joshua Grabar at jgrabar@grabarlaw.com, or call 267-507-6085 to learn more. #CoastalFinancial #CCB $CCB
Duolingo, Inc. (NASDAQ: DUOL):
Current Duolingo, Inc. shareholders who have held Duolingo shares since prior to May 2, 2025, are encouraged to contact Grabar Law Office to learn more about the investigation.
What is The Investigation About? Grabar Law Office is investigating claims on behalf of long-term shareholders of Duolingo, Inc. (NASDAQ: DUOL) concerning whether certain officers and directors of the Company breached fiduciary duties owed to Duolingo and its shareholders.
If you currently own Duolingo, Inc. (NASDAQ: DUOL) shares and have held those shares since prior to May 2, 2025, please visit https://grabarlaw.com/the-latest/duolingo-shareholder-investigation/, contact us at jgrabar@grabarlaw.com, or call 267-507-6085. you can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to you whatsoever.
Why? As alleged in a federal securities fraud class action complaint, Duolingo, Inc.’s (NASDAQ: DUOL) growth strategy increasingly emphasized monetization through advertising, subscription-tier upselling and the use of rapidly generated artificial-intelligence content. In this context it is alleged that the company, through certain corporate officers made materially false or misleading statements and/or failed to disclose that: 1) Duolingo was deliberately increasing user “friction” through higher advertising volume and subscription upsells; 2) the Company’s extensive A/B testing allegedly showed that such friction was negatively affecting daily active user, or DAU, growth; 3) rapidly generated AI content was allegedly degrading the quality of Duolingo’s product offerings and user experience; and 4) the Company’s monetization strategy and lower-quality AI-generated content were allegedly undermining the sustainability of Duolingo’s growth and financial performance.
The complaint further alleges that, in April 2025, Duolingo introduced a new feature known as Energy, which replaced its prior Hearts system. According to the complaint, the Energy system was designed in part to create additional friction for free users and encourage them to convert to paid subscriptions, while Duolingo publicly characterized the feature as rewarding and beneficial to user engagement.
The complaint also alleges that Duolingo increasingly relied upon AI-generated content while representing to investors that its use of AI was improving the product and accelerating content creation. According to the complaint, users instead began reporting translation and pronunciation errors, repetitive lessons and other quality concerns associated with certain AI-powered features.
What Can Long-Term Duolingo Shareholders Do Now? If you currently own Duolingo, Inc. (NASDAQ: DUOL) shares and have held those shares since prior to May 2, 2025, you can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to you whatsoever. If you would like to learn more about this matter, you are encouraged to visit https://grabarlaw.com/the-latest/duolingo-shareholder-investigation/, contact us at jgrabar@grabarlaw.com, or call 267-507-6085. #Duol $DUOL #Duolingo
Erasca, Inc. (NASDAQ: ERAS):
Grabar Law Office is investigating whether certain officers and directors of Erasca, Inc. (NASDAQ: ERAS) breached their fiduciary duties owed to the Company and its shareholders.
What is This Investigation About? The investigation concerns whether Erasca's directors and senior executives maintained appropriate oversight, disclosure controls, compliance procedures, and risk-management systems relating to the Company's public statements concerning ERAS-0015, a pan-RAS molecular glue candidate being developed for the treatment of RAS-mutant solid tumors.
If you are a current Erasca (NASDAQ: ERAS) shareholder who has held shares since prior to January 14, 2025, you seek corporate governance reforms, damages on behalf of the Company, and a court approved incentive award at no cost to you whatsoever. Please visit https://grabarlaw.com/the-latest/erasca-shareholder-investigation/, contact Joshua H. Grabar at jgrabar@grabarlaw.com, or call us at 267-507-6085.
What is Alleged? According to a recently filed federal securities class action Erasca, Inc. (NASDAQ: ERAS), through certain of its officers, made materially misleading statements and omissions concerning ERAS-0015. Among other things, the underlying class action complaint alleges that: Erasca publicly promoted ERAS-0015 as a potential "best-in-class" therapy and made repeated comparisons between ERAS-0015 and Revolution Medicines' RMC-6236; the Company's public disclosures allegedly relied upon improper comparisons to RMC-6236; Erasca allegedly faced intellectual property, patent, and trade-secret-related risks associated with those comparisons and related disclosures; investors allegedly were not adequately informed of those risks; and certain positive statements regarding ERAS-0015 allegedly lacked a reasonable basis when made.
April 2026 Disclosures: On April 27, 2026, Erasca disclosed that it had received correspondence from counsel for Revolution Medicines alleging, among other things, patent infringement, trade-secret-related issues, and allegedly improper comparative statements concerning ERAS-0015 and RMC-6236. Later that same day, Erasca disclosed preliminary Phase 1 clinical data regarding ERAS-0015 and reported that one patient who received ERAS-0015 had died after experiencing pneumonitis that progressed following withdrawal of supportive care. The Company also disclosed that comparisons between ERAS-0015 and other product candidates were based on cross-study analyses rather than head-to-head clinical trials and that such comparisons were inherently limited. Following these disclosures, Erasca's share price experienced a substantial decline.
What Can You Do Now? If you are a current Erasca, Inc. (NASDAQ: ERAS) shareholder and have held shares since prior to January 14, 2025, you can seek corporate governance reforms, damages on behalf of the Company, and a court approved incentive award at no cost to you whatsoever. Please visit https://grabarlaw.com/the-latest/erasca-shareholder-investigation/, contact Joshua H. Grabar at jgrabar@grabarlaw.com, or call us at 267-507-6085. #Erasca #ERAS $ERAS
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Joshua H. Grabar, Esq.
Grabar Law Office
One Liberty Place
1650 Market Street, Suite 3600
Philadelphia, PA 19103
Tel: 267-507-6085
Email: jgrabar@grabarlaw.com