CrowdStrike has been sued by shareholders who said the cybersecurity company defrauded them by concealing how its inadequate software testing could cause the July 19 global outage that crashed more than 8 million computers. They said CrowdStrike's share price fell 32% over the next 12 days, wiping out $25 billion of market value. The complaint cites statements including from a March 5 conference call where Kurtz characterised CrowdStrike's software as "validated, tested and certified." CrowdStrike shares closed on Wednesday down $1.69 at $231.96. The case is Plymouth County Retirement Association v CrowdStrike Inc et al, U.S. District Court, Western District of Texas, No.

Source: The Hindu August 01, 2024 19:27 UTC