| COMPANY |
CrowdStrike Holdings, Inc. |
| COURT |
United States District Court for the Western District of Texas |
| CASE NUMBER |
24-cv-00857 |
| JUDGE |
The Hon. Robert Lee Pitman |
| CLASS PERIOD |
September 20, 2022 and July 30, 2024 |
| SECURITY TYPE |
Common Stock |
Case Background:
This is a class action on behalf of a class of all persons and entities who purchased or otherwise acquired CrowdStrike Class A common stock between September 20, 2022 and July 30, 2024, inclusive (the “Class Period”).
Throughout the Class Period, Defendants repeatedly touted the efficacy of the Falcon platform while assuring investors that CrowdStrike's technology was “validated, tested, and certified.” The Complaint alleges that these statements were false and misleading because Defendants had failed to disclose that: (1) 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; (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. As a result of these materially false and misleading statements and omissions, CrowdStrike stock traded at artificially high prices during the Class Period.
Current Status of Case:
On October 30, 2024, the Court entered an Order Granting Motion for Appointment as Lead Plaintiff and Approval of Its Selection of Lead Counsel. On January 21, 2025, Lead Plaintiff filed an Amended Complaint. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.