They said CrowdStrike's share price fell 32 per cent over the next 12 days, wiping out $25 billion US of market value. The complaint cites statements, including from a March 5 conference call where Kurtz characterized CrowdStrike's software as validated, tested and certified. The lawsuit led by the Plymouth County Retirement Association of Plymouth, Mass., seeks unspecified damages for holders of CrowdStrike Class A shares between Nov. 29, 2023 and July 29, 2024. Shareholders often sue companies after unexpected negative news causes stock prices to fall, and CrowdStrike could face more lawsuits. CrowdStrike shares closed at $231.96 on Wednesday.

Source: CBC News August 01, 2024 14:29 UTC