CrowdStrike Holdings Faces Class Action Lawsuit Over Alleged Securities Violations

Shareholder Alert: Robbins LLP Informs Investors of the Class Action Filed Against CrowdStrike Holdings, Inc. (CRWD) - CrowdStrike Holdings (NASDAQ:CRWD)

SAN DIEGO, July 31, 2024 (GLOBE NEWSWIRE) -- Robbins LLP informs 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. CroudStrike 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

CROWDSTRIKE ALERT: Bragar Eagel & Squire, P.C. Announces that a Class Action Lawsuit Has Been Filed Against CrowdStrike Holdings, Inc. and Encourages Investors to Contact the Firm - CrowdStrike Holdings (NASDAQ:CRWD)

NEW YORK, July 31, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against CrowdStrike Holdings, Inc. ("CrowdStrike" or the "Company") CRWD in the United States District Court for the Western District of Texas on behalf of all persons and entities who purchased or otherwise acquired CrowdStrike securities between November 29, 2023 and July 29, 2024, both dates inclusive (the "Class Period"). Investors have until September 30, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit. Click here to participate in the action. 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. If you purchased or otherwise acquired CrowdStrike shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at [email protected], telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you. 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