Class Action Lawsuits Filed Against Multiple Tech Companies: CrowdStrike, DXC Technology, and Others in Focus

CRWD CLASS ACTION ALERT: Robbins LLP Reminds Stockholders of the Lead Plaintiff Deadline in the CrowdStrike Holdings, Inc. Class Action - CrowdStrike Holdings (NASDAQ:CRWD)

SAN DIEGO, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired CrowdStrike Holdings, Inc. CRWD Class A common stock between November 29, 2023 and July 29, 2024. CrowdStrike is a global cybersecurity company that provides software that helps prevent data breaches. CrowdStrike's main product is the Falcon software platform, which purportedly uses artificial intelligence and machine learning technologies to detect, prevent, and respond to security breach threats. For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003. The Allegations: Robbins LLP is Investigating Allegations that CrowdStrike Holdings, Inc. (CRWD) Misled Investors Regarding the Efficacy of its Falcon Product According to the complaint, during the class period, defendants repeatedly touted the efficacy of the Falcon platform while assuring investors that CrowdStrike's technology was "validated, tested, and certified." The complaint contends these statements were false and misleading because defendants 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 substantial risk that an update to Falcon could cause major outages for a significant number of the Company's customers; and (3) such outages could pose, and in fact ultimately created, substantial reputational harm and legal risk to CrowdStrike. Beginning on July 19, 2024, investors learned about critical issues with CrowdStrike's technology when a single update pushed by CrowdStrike caused outages for millions of users of Microsoft Windows devices worldwide, including financial institutions, government entities, and corporations. Further, CrowdStrike disclosed that the outages had left users vulnerable to potential hacking threats. On this news, shares of CrowdStrike fell $38.09, or 11%, to close at $304.96 on July 19, 2024. As more information came to light regarding the outages, the Company's stock continued to decline, closing at $233.64 on July 30, 2024. What Now: You may be eligible to participate in the class action against CrowdStrike Holdings, Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by September 30, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here. All representation is on a contingency fee basis. Shareholders pay no fees or expenses. About Robbins LLP: Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. Since our inception, we have obtained over $1 billion for shareholders. To be notified if a class action against CrowdStrike Holdings, Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today. Attorney Advertising. Past results do not guarantee a similar outcome. Aaron Dumas, Jr. Robbins LLP 5060 Shoreham Pl., Ste. 300 San Diego, CA 92122 [email protected] (800) 350-6003 www.robbinsllp.com https://www.facebook.com/RobbinsLLP/ https://www.linkedin.com/company/robbins-llp/ A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/cb1cb8d8-9a6d-42eb-b1b3-58f4865bfdfc Market News and Data brought to you by Benzinga APIs

Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against DXC, CrowdStrike, MacroGenics, and Five Below and Encourages Investors to Contact the Firm - CrowdStrike Holdings (NASDAQ:CRWD), DXC Technology (NYSE:DXC)

NEW YORK, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of DXC Technology Company DXC, CrowdStrike Holdings, Inc. CRWD, MacroGenics, Inc. MGNX, and Five Below, Inc. FIVE. Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided. DXC Technology Company DXC Class Period: May 26, 2021 - May 16, 2024 Lead Plaintiff Deadline: October 1, 2024 According to the complaint, during the class period, defendants misrepresented its ongoing "transformation journey" and the Company's ability to integrate previously acquired companies and business systems. While touting its ongoing success in implementing that integration, DXC repeatedly stressed its commitment to reducing the Company's restructuring and transaction, separation, and integration ("TSI") costs in order to increase its free cashflow and "unleash [its] true earnings power." In truth, Defendants knew or recklessly disregarded that the Company was only able to reduce its restructuring and TSI costs by limiting its integration efforts. The complaint alleges that on August 3, 2022, DXC reported disappointing first quarter results, despite having reiterated its guidance just six weeks prior. DXC blamed its poor performance on the fact that its "cost optimization efforts have moved at a slower pace than anticipated." These disclosures caused the price of DXC common stock to decline by 17%, from $31.52 per share to $26.15 per share. Then, on May 16, 2024, DXC's CEO admitted that "the previous restructurings did not set a real, clean, solid, fully integrated baseline for profitable growth" because the systems that were acquired over time were "never integrated, never deduped," and admitted that the Company was "not [a] fully functional organization." DXC also announced it would need to spend an additional $250 million to achieve the restructuring and integration process it falsely claimed to have been successfully implementing during the Class Period. These disclosures caused the price of DXC common stock to decline nearly 17%, from $19.88 per share to $16.52 per share. For more information on the DXC class action go to: https://bespc.com/cases/DXC CrowdStrike Holdings, Inc. CRWD Class Period: November 29, 2023 - July 29, 2024 Lead Plaintiff Deadline: September 30, 2024 CrowdStrike is a global cybersecurity company that provides software that helps prevent data breaches. According to the complaint, CrowdStrike's main product is the Falcon software platform, which purportedly uses artificial intelligence and machine learning technologies to detect, prevent, and respond to security breach threats. The CrowdStrike class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) 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; (ii) this inadequate software testing created a substantial risk that an update to Falcon could cause major outages for a significant number of CrowdStrike's customers; and (iii) such outages could pose, and in fact ultimately created, substantial reputational harm and legal risk to CrowdStrike. The CrowdStrike class action lawsuit further alleges that on July 19, 2024, news broke that a flawed Falcon content update caused major worldwide technology outages for millions of devices running Microsoft Windows. On this news, the price of CrowdStrike stock fell more than 11%, according to the complaint. Then, on July 22, 2024, the CrowdStrike class action lawsuit further alleges that Congress called on CrowdStrike CEO, defendant George Kurtz, to testify regarding the crisis and CrowdStrike's stock rating was downgraded by analysts such as Guggenheim and BTIG. On this news, the price of CrowdStrike stock fell more than 13%, according to the complaint. Finally, on July 29, 2024, news outlets reported that Delta Air Lines had hired prominent attorney David Boies to seek damages from CrowdStrike following the software outage, according to the complaint. On this news, the price of CrowdStrike stock fell nearly 10%, according to the CrowdStrike class action lawsuit. For more information on the CrowdStrike class action go to: https://bespc.com/cases/CRWD MacroGenics, Inc. MGNX Class Period: March 7, 2024 - May 9, 2024 Lead Plaintiff Deadline: September 24, 2024 On May 9, 2024, MacroGenics announced in a press release that a total of five fatal outcomes had occurred in its TAMARACK Phase 2 study of vobramitamab duocarmazine in patients with metastatic castration resistant prostate cancer. On this news, the price of MacroGenics shares declined by $11.36 per share, or approximately 77.4%, from $14.67 per share on May 9, 2024 to close at $3.31 on May 10, 2024. The lawsuit alleges that the Company made material misrepresentations by providing overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts related to early interim safety data results from the TAMARACK Phase 2 study. For more information on the MacroGenics class action go to: https://bespc.com/cases/MGNX Five Below, Inc. FIVE Class Period: March 20, 2024 - July 16, 2024 Lead Plaintiff Deadline: September 30, 2024 According to the lawsuit, during the Class Period, defendants provided investors with false and/or materially misleading information about Five Below's financial strength and operations, including its outlook for the first quarter and full year 2024. This information included Five Below's statement that net sales are expected to be in the range of $826 million to $846 million based on opening approximately 55 to 60 new stores in the first quarter. Further, Five Below claimed that net sales for the full year are expected to be in the range of $3.97 billion to $4.07 billion based on opening between 225 and 235 new stores. Investors discovered that these statements were false and/or materially misleading when, on June 5, 2024, Five Below announced disappointing first quarter 2024 sales result and cut its full year 2024 guidance stating, "Net sales are expected to be in the range of $3.79 billion to $3.87 billion based on opening approximately 230 new stores." At the same time, Five Below claimed that for the second quarter, "Net sales are expected to be in the range of $830 million to $850 million based on opening approximately 60 new stores." When the true details entered the market, the lawsuit claims that investors suffered damages. For more information on the Five Below class action go to: https://bespc.com/cases/FIVE About Bragar Eagel & Squire, P.C.: Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes. Contact Information: Bragar Eagel & Squire, P.C. Brandon Walker, Esq. Marion Passmore, Esq. (212) 355-4648 [email protected] www.bespc.com Market News and Data brought to you by Benzinga APIs