Grabar probes shareholder claims at four Nasdaq companies

Grabar Law Office said in an Oct. 10 press release it is investigating shareholder claims involving four Nasdaq-listed companies: Aardvark Therapeutics, Coastal Financial, Duolingo and Ensign Group.

The solicitation matters because the Oct. 10 press release cites alleged share-price declines of about 56% at Aardvark and 43.5% at Coastal following company disclosures in 2026.

For Aardvark, Grabar said its investigation follows a securities class action alleging violations of federal securities laws tied to statements about ARD-101, the company's lead drug candidate. According to the law firm's description of the complaint, Aardvark's IPO documents said ARD-101 had been “well-tolerated” in earlier trials and had shown no serious adverse events.

The press release said Aardvark announced on Feb. 27 that it had voluntarily paused enrollment and dosing in the Phase 3 HERO trial after reversible cardiac observations appeared in safety monitoring in a healthy-volunteer study. The complaint alleges Aardvark shares fell about 56%, closing at $5.47 on March 2, and fell another 32.1% after the company said on May 14 that the FDA had placed a full clinical hold on ARD-101.

For Coastal Financial, Grabar said a separate federal securities fraud complaint alleges false and misleading statements about the growth and credit quality of the company's CCBX business. The complaint, as described by Grabar, alleges deterioration in a partner loan portfolio of about $500 million, or nearly 23% of CCBX loans.

Coastal reported a second-quarter 2026 GAAP net loss of $42.1 million on July 30, driven mainly by a $68.8 million credit expense tied to one CCBX partner relationship, according to the press release. Grabar said the complaint alleges Coastal shares fell $30.75, or 43.5%, to $39.91 that day, erasing about $470 million in market value.

The release said Grabar is also investigating Duolingo on behalf of holders who have owned shares since before May 2, 2025. The supplied text includes no detailed allegations for Ensign Group and only partial detail for Duolingo; it reports no court ruling on the allegations.

Source: press release, Grabar Law Office via GlobeNewswire, Oct. 10, 2026