Robbins Geller Rudman & Dowd LLP Announces that CrowdStrike Holdings, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit

The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of CrowdStrike Holdings, Inc. (NASDAQ: CRWD) Class A common stock between November 29, 2023 and July 29, 2024, both dates inclusive (the “Class Period”), have until September 30, 2024 to seek appointment as lead plaintiff of the CrowdStrike class action lawsuit. Captioned Plymouth County Retirement Association v. CrowdStrike Holdings, Inc., No. 24-cv-00857 (W.D. Tex.), the CrowdStrike class action lawsuit charges CrowdStrike as well as certain of CrowdStrike’s top executives with violations of the Securities Exchange Act of 1934.

If you suffered substantial losses and wish to serve as lead plaintiff of the CrowdStrike class action lawsuit, please provide your information here:

https://www.rgrdlaw.com/cases-crowdstrike-holdings-inc-class-action-la ...

You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at [e-mail]. Lead plaintiff motions for the CrowdStrike class action lawsuit must be filed with the court no later than September 30, 2024.

CASE ALLEGATIONS: CrowdStrike is a global cybersecurity company that provides software that helps prevent data breaches. According to the complaint, CrowdStrike’s main product is the Falcon software platform, which purportedly uses artificial intelligence and machine learning technologies to detect, prevent, and respond to security breach threats.

The CrowdStrike class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) 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; (ii) this inadequate software testing created a substantial risk that an update to Falcon could cause major outages for a significant number of CrowdStrike’s customers; and (iii) such outages could pose, and in fact ultimately created, substantial reputational harm and legal risk to CrowdStrike.

The CrowdStrike class action lawsuit further alleges that on July 19, 2024, news broke that a flawed Falcon content update caused major worldwide technology outages for millions of devices running Microsoft Windows. On this news, the price of CrowdStrike stock fell more than 11%, according to the complaint.

Then, on July 22, 2024, the CrowdStrike class action lawsuit further alleges that Congress called on CrowdStrike CEO, defendant George Kurtz, to testify regarding the crisis and CrowdStrike’s stock rating was downgraded by analysts such as Guggenheim and BTIG. On this news, the price of CrowdStrike stock fell more than 13%, according to the complaint.