Crowdstrike Holdings, Inc.
Case Overview
5 Days Left to Seek Lead Plaintiff
Lead Plaintiff Deadline: | Lead Plaintiff Deadline: 09/30/2024 |
Status: | Status: Investigating |
Company Name: | Company Name: Crowdstrike Holdings, Inc. |
Court: | Court: Western District of Texas |
Case Number: | Case Number: 1:24cv00857 |
Class Period: | Class Period: 11/29/2023 - 07/29/2024 |
Ticker: | Ticker: CRWD |
Related Practices: | Related Practices: Securities |
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Western District of Texas on behalf of those who acquired Crowdstrike Holdings, Inc. ("Crowdstrike" or the "Company") (NASDAQ: CRWD) securities during the period of November 29, 2021 through July 29, 2024 inclusive (the "Class Period"). Investors have until September 30, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The lawsuit alleges that Crowdstrike had failed to disclose that: (1) CrowdStrike had instituted deficient controls in its procedure for updating its Falcon software platform 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.
The lawsuit alleges that Crowdstrike had failed to disclose that: (1) CrowdStrike had instituted deficient controls in its procedure for updating its Falcon software platform 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.