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By Jonathan Stempel (Reuters) - CrowdStrike has been sued by shareholders who said the cybersecurity company defrauded them by concealing how its inadequate software testing could cause the July ...
The problem affected systems running Windows 10 and Windows 11 running the CrowdStrike Falcon software. [18] [15] Most personal Windows PCs were unaffected, as CrowdStrike's software is primarily used by organizations. [18] The CrowdStrike software did not provide a way for subscribers to delay the installation of its content files. [19]
Delta's lawsuit filed in Fulton County Superior Court called the faulty software update from CrowdStrike "catastrophic" and said the firm "forced untested and faulty updates to its customers ...
On July 19, cybersecurity company CrowdStrike distributed a faulty update to its Falcon Sensor security software that caused widespread problems with Microsoft Windows computers running the software. As a result, roughly 8.5 million systems crashed and were unable to properly restart [ 8 ] in what has been called the largest outage in the ...
On this news, shares of CrowdStrike fell $25.16 or 10% to close at $233.65 on July 30, 2024. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class.
“CrowdStrike caused a global catastrophe because it cut corners, took shortcuts, and circumvented the very testing and certification processes it advertised, for its own benefit and profit,” Delta said in the lawsuit, which was filed in Fulton County Superior Court in Georgia, near the company's headquarters.
Delta said CrowdStrike is liable for over $500 million in out-of-pocket losses as well as for an unspecified amount of lost profits, expenditures, including attorneys’ fees and “reputational ...
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 ...