CrowdStrike Shares Plummet 32% Amid Software Testing Scandal: Shareholders Sue for $25 Billion Loss
Shareholders have sued CrowdStrike, claiming the cybersecurity company concealed its inadequate software testing, which led to a global software outage affecting millions. The lawsuit alleges CrowdStrike’s assurances were misleading, causing a 32% drop in share price and significant financial loss.
Hot Take:
Looks like CrowdStrike just got hit with a “denial of service” lawsuit from its own shareholders. Talk about a self-inflicted DDoS!
Key Points:
- Shareholders sue CrowdStrike over allegedly misleading them about software testing.
- A software update gone awry led to a global outage affecting multiple industries.
- CrowdStrike’s stock plummeted by 32%, wiping out $25 billion of market value.
- CEO George Kurtz summoned to testify before the U.S. Congress.
- Plymouth County Retirement Association leads the class action lawsuit.
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