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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 ...
Investors in CrowdStrike have also filed a lawsuit. The Plymouth County Retirement Association alleges CrowdStrike maintained deficient controls and did not adequately test its software, despite ...
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) CrowdStrike had instituted deficient controls in its procedure for updating Falcon and was not properly testing updates to Falcon before rolling them out ...
In its lawsuit, Delta claims that the outage occurred because CrowdStrike failed to test the update before rolling it out worldwide. Delta canceled about 7,000 flights over a five-day period during the peak summer vacation season. The outage also affected banks, hospitals and other businesses.
The Complaint alleges that these statements were false and misleading because Defendants had failed to disclose that: (1) CrowdStrike had instituted deficient controls in its procedure for updating Falcon and was not properly testing updates to Falcon before rolling them out to customers; (2) this inadequate software testing created a ...
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 ...
In a proposed class action lawsuit filed in federal court in Austin, Texas, three travelers accused CrowdStrike of negligence in testing and deploying its software, which they claim caused the outage.
On October 25, 2024, Delta Air Lines filed a lawsuit against cybersecurity firm CrowdStrike, seeking compensation for losses incurred during a significant IT outage on July 19, 2024. Delta estimates the financial impact at around $550 million, encompassing both lost revenue and additional expenses.