{"id":2282,"date":"2024-08-01T07:00:33","date_gmt":"2024-08-01T07:00:33","guid":{"rendered":"https:\/\/tradetrovex.com\/index.php\/2024\/08\/01\/crowdstrike-sued-over-global-it-outage\/"},"modified":"2024-08-01T07:00:33","modified_gmt":"2024-08-01T07:00:33","slug":"crowdstrike-sued-over-global-it-outage","status":"publish","type":"post","link":"https:\/\/tradetrovex.com\/index.php\/2024\/08\/01\/crowdstrike-sued-over-global-it-outage\/","title":{"rendered":"CrowdStrike sued over global IT outage"},"content":{"rendered":"

The firm at the centre of the global IT outage last month is being sued by some of its shareholders.<\/p>\n

Lawyers claim cyber security company CrowdStrike defrauded investors by concealing flaws with its software testing.<\/p>\n

<\/div>\n

It comes after a software update sent out by the firm<\/strong> caused more than eight million computers to crash on 19 July.<\/p>\n

The meltdown hit thousands of businesses worldwide, disrupting airports, banks, hospitals and broadcasters<\/strong>.<\/p>\n

CrowdStrike boss George Kurtz apologised to those affected<\/strong> and blamed a \u201csoftware bug\u201d, but admitted it would take \u201csome time\u201d to fully fix the problems.<\/p>\n

<\/div>\n

The lawsuit, which was filed in Austin, Texas, alleges the firm\u2019s assurances about its technology were materially false and misleading.<\/p>\n

It noted that CrowdStrike\u2019s share price plummeted 32% in the 12 days following the global outage, wiping out $25bn (\u00a319bn) of its market value.<\/p>\n

The legal complaint quotes statements by Mr Kurtz during a conference call in March, in which he described the company\u2019s software as \u201cvalidated, tested and certified\u201d.<\/p>\n

A spokesperson for CrowdStrike, which is based in Texas, said: \u201cWe believe this case lacks merit and we will vigorously defend the company.\u201d<\/p>\n

The lawsuit, led by the Plymouth County Retirement Association in Massachusetts, seeks unspecified damages for those who held shares in the company between 29 November last year and 29 July.<\/p>\n

The company could face further lawsuits over the outage.<\/p>\n

Delta Air Lines is among those who have said they are considering legal action.<\/p>\n

The carrier<\/strong>\u2018s chief executive Ed Bastian told CNBC on Wednesday the outage cost his firm around $500m (\u00a3390m), including lost revenue and compensation and hotels for stranded fliers.<\/p>\n<\/p>\n

This post appeared first on sky.com<\/div>\n","protected":false},"excerpt":{"rendered":"

The firm at the centre of the global IT outage last month is being sued…<\/p>\n","protected":false},"author":0,"featured_media":2283,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-2282","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech-news"],"_links":{"self":[{"href":"https:\/\/tradetrovex.com\/index.php\/wp-json\/wp\/v2\/posts\/2282","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradetrovex.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradetrovex.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/tradetrovex.com\/index.php\/wp-json\/wp\/v2\/comments?post=2282"}],"version-history":[{"count":0,"href":"https:\/\/tradetrovex.com\/index.php\/wp-json\/wp\/v2\/posts\/2282\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradetrovex.com\/index.php\/wp-json\/wp\/v2\/media\/2283"}],"wp:attachment":[{"href":"https:\/\/tradetrovex.com\/index.php\/wp-json\/wp\/v2\/media?parent=2282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradetrovex.com\/index.php\/wp-json\/wp\/v2\/categories?post=2282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradetrovex.com\/index.php\/wp-json\/wp\/v2\/tags?post=2282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}