Lawsuit filed for Investors who lost money with shares of CrowdStrike Holdings, Inc. (NASDAQ: CRWD)

An investor, who purchased shares of CrowdStrike Holdings, Inc. (NASDAQ: CRWD), filed a lawsuit over alleged violations of Federal Securities Laws by CrowdStrike Holdings, Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of CrowdStrike Holdings, Inc. (NASDAQ: CRWD)
have certain options and for certain investors are short and strict deadlines running. Deadline: September 30, 2024. NASDAQ: CRWD investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Austin, TX based CrowdStrike Holdings, Inc. provides cybersecurity solutions in the United States and internationally. Its unified platform offers cloud-delivered protection of endpoints, cloud workloads, identity, and data. CrowdStrike Holdings, Inc'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 Falcon software is embedded in the computers of CrowdStrike's customers and requires constant updates.

On July 19, 2024 CrowdStrike Holdings, Inc. caused a global internet outage, when its botched update caused computers running Microsoft Windows to crash. The Company's error caused major problems in banking, transportation, and other sectors. The Company's CEO acknowledged the problem, stating, "We're deeply sorry for the impact that we've caused to customers, to travelers, to anyone affected by this."

On July 22, 2024, Congress called on the CEO of CrowdStrike Holdings, Inc. to testify regarding the crisis. On the same day the Company's stock rating was downgraded by analysts such as Guggenheim and BTIG.

On July 29, 2024, news outlets reported that Delta Air Lines had hired prominent attorney David Boies to seek damages from the Company following the outages.

Shares of CrowdStrike Holdings, Inc. (NASDAQ: CRWD) declined from $398.33 per share on July 09, 2024, to as low as $211.66 per share on August 01, 2024.

The plaintiff claims that between November 29, 2023 and July 29, 2024, these statements were false and misleading because Defendants had failed to disclose that 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, that 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 that such outages could pose, and in fact ultimately created, substantial reputational harm and legal risk to CrowdStrike. As a result of these materially false and misleading statements and omissions, CrowdStrike stock traded at artificially high prices during the Class Period.

Those who purchased shares of CrowdStrike Holdings, Inc. (NASDAQ: CRWD) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.