CrowdStrike has been sued by shareholders who said the cybersecurity company defrauded them.
sued by shareholders who said the cybersecurity company defrauded them by concealing how its inadequate software testing could cause the 19 July global outage that crashed more than eight million computers.
They said CrowdStrike’s share price fell 32% over the next 12 days, wiping out US$25-billion of market value, as the outage’s effects became known, CEO George Kurtz was called to testify to the US congress and Delta Air Lines reportedly hired prominent lawyer David Boies to seek damages.The complaint cites statements including from a 5 March conference call where Kurtz characterised CrowdStrike’s software as “validated, tested and certified”.
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