Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired CrowdStrike Holdings, Inc. (“CrowdStrike”) (NASDAQ: CRWD) Class A common stock between September 20, 2022 and July 30, 2024, inclusive (the “Class Period”).
The complaint alleges that, 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.” Specifically, the complaint alleges Defendants made false and/or misleading statements and/or 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 April 7, 2025, Defendants filed a Motion to Dismiss the Complaint. The Motion has been fully briefed and is pending before the Court. This action is ongoing.
If you wish to discuss this action or have any questions, 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.