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+--- Thread: CrowdStrike sued by investors over massive global IT outage (/Thread-CrowdStrike-sued-by-investors-over-massive-global-IT-outage)
CrowdStrike sued by investors over massive global IT outage - r3tr0t3ch - 08-04-2024
Lawsuit Filed: CrowdStrike is being sued by investors for allegedly providing false claims about its Falcon platform after a faulty update caused a global IT outage.
Stock Price Drop: The incident led to a 38% drop in CrowdStrike’s stock price, causing significant financial losses to investors.
Impact of Outage: The faulty update affected 8.5 million Windows devices, causing widespread IT outages in various sectors, including airports and hospitals.
Financial Losses: The outage resulted in estimated losses of $5.4 billion for big enterprises, with insured losses projected between $300 million and $1.5 billion.