{"id":2305,"date":"2024-08-01T03:57:55","date_gmt":"2024-08-01T03:57:55","guid":{"rendered":"https:\/\/260web.com\/news\/crowdstrike-sued-by-shareholders-over-global-outage\/"},"modified":"2024-08-01T03:57:55","modified_gmt":"2024-08-01T03:57:55","slug":"crowdstrike-sued-by-shareholders-over-global-outage","status":"publish","type":"post","link":"https:\/\/260web.com\/news\/crowdstrike-sued-by-shareholders-over-global-outage\/","title":{"rendered":"CrowdStrike sued by shareholders over global outage"},"content":{"rendered":"<p>CrowdStrike sued by shareholders over global outage<\/p>\n<div data-component=\"image-block\" class=\"ssrcss-xza2yt-ComponentWrapper ep2nwvo1\">\n<figure class=\"ssrcss-8589xk-StyledFigure e34k3c23\">\n<div class=\"ssrcss-ab5fd8-StyledFigureContainer e34k3c21\"><span class=\"ssrcss-1sdnb5l-Placeholder etlorgc0\"><picture><source srcset=\"https:\/\/ichef.bbci.co.uk\/news\/240\/cpsprodpb\/ef74\/live\/b6acfe80-4faa-11ef-b62d-4ff2c39850cf.jpg.webp 240w, https:\/\/ichef.bbci.co.uk\/news\/320\/cpsprodpb\/ef74\/live\/b6acfe80-4faa-11ef-b62d-4ff2c39850cf.jpg.webp 320w, https:\/\/ichef.bbci.co.uk\/news\/480\/cpsprodpb\/ef74\/live\/b6acfe80-4faa-11ef-b62d-4ff2c39850cf.jpg.webp 480w, https:\/\/ichef.bbci.co.uk\/news\/624\/cpsprodpb\/ef74\/live\/b6acfe80-4faa-11ef-b62d-4ff2c39850cf.jpg.webp 624w, https:\/\/ichef.bbci.co.uk\/news\/800\/cpsprodpb\/ef74\/live\/b6acfe80-4faa-11ef-b62d-4ff2c39850cf.jpg.webp 800w, https:\/\/ichef.bbci.co.uk\/news\/976\/cpsprodpb\/ef74\/live\/b6acfe80-4faa-11ef-b62d-4ff2c39850cf.jpg.webp 976w\" type=\"image\/webp\"><img decoding=\"async\" alt=\"United Airlines employees wait by a departures monitor displaying a blue error screen.\" loading=\"eager\" src=\"https:\/\/260web.com\/news\/wp-content\/uploads\/2024\/08\/pPo8jZ.jpg\" srcset=\"https:\/\/ichef.bbci.co.uk\/news\/240\/cpsprodpb\/ef74\/live\/b6acfe80-4faa-11ef-b62d-4ff2c39850cf.jpg 240w, https:\/\/ichef.bbci.co.uk\/news\/320\/cpsprodpb\/ef74\/live\/b6acfe80-4faa-11ef-b62d-4ff2c39850cf.jpg 320w, https:\/\/ichef.bbci.co.uk\/news\/480\/cpsprodpb\/ef74\/live\/b6acfe80-4faa-11ef-b62d-4ff2c39850cf.jpg 480w, https:\/\/ichef.bbci.co.uk\/news\/624\/cpsprodpb\/ef74\/live\/b6acfe80-4faa-11ef-b62d-4ff2c39850cf.jpg 624w, https:\/\/ichef.bbci.co.uk\/news\/800\/cpsprodpb\/ef74\/live\/b6acfe80-4faa-11ef-b62d-4ff2c39850cf.jpg 800w, https:\/\/ichef.bbci.co.uk\/news\/976\/cpsprodpb\/ef74\/live\/b6acfe80-4faa-11ef-b62d-4ff2c39850cf.jpg 976w\" width=\"2048\" height=\"1151.683950617284\" class=\"ssrcss-11yxrdo-Image edrdn950\"><\/picture><\/span><span role=\"text\" class=\"ssrcss-tvuve5-StyledFigureCopyright e34k3c20\">Reuters<\/span><\/div>\n<\/figure>\n<\/div>\n<div data-component=\"byline-block\" class=\"ssrcss-1hbb5i-BylineComponentWrapper e8mq1e90\">\n<div class=\"ssrcss-qt5zqv-BylineWrapper e8mq1e917\">\n<div class=\"ssrcss-h3c0s8-ContributorContainer e8mq1e916\">\n<div class=\"ssrcss-1u2in0b-Container-ContributorDetails e8mq1e913\">\n<div class=\"ssrcss-68pt20-Text-TextContributorName e8mq1e96\">Jo\u00e3o da Silva<\/div>\n<div class=\"ssrcss-84ltp5-Text e8mq1e910\">Business reporter<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"ssrcss-jlwt2c-Divider e8mq1e915\"><\/div>\n<\/div>\n<div data-component=\"metadata-block\" class=\"ssrcss-xza2yt-ComponentWrapper ep2nwvo1\">\n<div>\n<ul role=\"list\" class=\"ssrcss-j4gvkq-MetadataStripContainer eh44mf03\">\n<div class=\"ssrcss-13nu8ri-GroupChildrenForWrapping eh44mf02\">\n<li role=\"listitem\" class=\"ssrcss-30fcoe-MetadataStripItem eh44mf01\">\n<div class=\"ssrcss-m5j4pi-MetadataContent eh44mf00\"><span class=\"ssrcss-1pvwv4b-MetadataSnippet e4wm5bw3\"><span class=\"ssrcss-1if1g9v-MetadataText e4wm5bw1\"><time data-testid=\"timestamp\" datetime=\"2024-08-01T03:38:56.635Z\">18 minutes ago<\/time><\/span><\/span><\/div>\n<\/li>\n<\/div>\n<\/ul>\n<\/div>\n<\/div>\n<div data-component=\"text-block\" class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\"><b class=\"ssrcss-1xjjfut-BoldText e5tfeyi3\">CrowdStrike is being sued by shareholders after a faulty update by the cybersecurity firm crashed more than eight millions computers and caused chaos around the world.<\/b><\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">The lawsuit accuses the company of making &#8220;false and misleading&#8221; statements about its software testing.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">It also says the company&#8217;s share price dropped 32% in the 12 days after the incident, causing a loss in market value of $25bn (\u00a314.5bn).<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">CrowdStrike denies the allegations and said it will defend itself against the proposed class action lawsuit.<\/p>\n<\/div>\n<\/div>\n<div data-component=\"text-block\" class=\"ssrcss-uf6wea-RichTextComponentWrapper ep2nwvo0\">\n<div class=\"ssrcss-7uxr49-RichTextContainer e5tfeyi1\">\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">The suit filed in the Austin, Texas federal court, alleges that CrowdStrike executives defrauded investors by making them believe the company&#8217;s software updates were adequately tested.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">The lawsuit is seeking an unspecified amount of compensation for investors who owned CrowdStrike shares between 29 November and 29 July.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">It cites chief executive George Kurtz, who said in a conference call on 5 March that the firm&#8217;s software was &#8220;validated, tested and certified.&#8221;<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">CrowdStrike told BBC News that its disputes the claims. <\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">\u201cWe believe this case lacks merit and we will vigorously defend the company,\u201d a spokesperson said.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Meanwhile, the chief executive of Delta Air Lines, Ed Bastian, has said in an interview with business news channel CNBC that the disruption caused by the outage cost the airline $500m, including lost revenue and compensation to passengers.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Delta has reportedly hired a prominent lawyer and is preparing to seek compensation from CrowdStrike.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">The faulty update on 19 July crashed 8.5 million Microsoft Windows computers around the world. The outage disrupted businesses and services, including airlines, banks and hospitals. <\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">In a detailed review of the incident, CrowdStrike said there was a &#8220;bug&#8221; in a system designed to ensure software updates worked properly.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">CrowdStrike said the glitch meant &#8220;problematic content data&#8221; in a file went undetected.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">The company said it could prevent a repeat of the incident with better software testing and checks, including more scrutiny from developers.<\/p>\n<\/div>\n<\/div>\n<div data-component=\"topic-list\" class=\"ssrcss-1qmkvfu-TopicListWrapper etw6iwl1\">\n<div class=\"ssrcss-smoc0a-StyledTagContainer ed0g1kj1\">\n<div class=\"ssrcss-50vlbt-TopicListHeaderWrapper etw6iwl0\">\n<h2 type=\"normal\" class=\"ssrcss-1hh51ad-Heading e10rt3ze0\">Related Topics<\/h2>\n<\/div>\n<div class=\"ssrcss-17ehax8-Cluster e1ihwmse1\">\n<ul role=\"list\" spacing=\"2\" class=\"ssrcss-1ujonwb-ClusterItems e1ihwmse0\">\n<li>International Business<\/li>\n<li>Microsoft<\/li>\n<li>Cyber-security<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<p>Published at Thu, 01 Aug 2024 03:38:56 +0000<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CrowdStrike sued by shareholders over global outage Reuters Jo\u00e3o da Silva Business reporter 18 minutes ago CrowdStrike is being sued by shareholders after a faulty update by the cybersecurity firm crashed more than eight millions computers and caused chaos around the world. The lawsuit accuses the company of making &#8220;false and misleading&#8221; statements about its&hellip; <a class=\"more-link\" href=\"https:\/\/260web.com\/news\/crowdstrike-sued-by-shareholders-over-global-outage\/\">Continue reading <span class=\"screen-reader-text\">CrowdStrike sued by shareholders over global outage<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":2304,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[5],"tags":[],"class_list":["post-2305","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","entry"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/posts\/2305","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/comments?post=2305"}],"version-history":[{"count":0,"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/posts\/2305\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/media\/2304"}],"wp:attachment":[{"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/media?parent=2305"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/categories?post=2305"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/260web.com\/news\/wp-json\/wp\/v2\/tags?post=2305"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}