.July 31, 2024 05:05:47 AM

Pomerantz LLP is investigating CrowdStrike Holdings, Inc. (NASDAQ: CRWD) for potential securities fraud after a software outage on July 19, 2024, impacting various sectors and highlighting CrowdStrike’s importance in cybersecurity.

The outage, caused by a software update for Microsoft Windows systems issued by CrowdStrike, affected businesses across sectors like banks, airlines, TV stations, healthcare providers, and hotels, emphasizing the critical role of CrowdStrike’s services in cybersecurity.

CrowdStrike, known for its cloud-delivered protection of endpoints, cloud workloads, identity, and data, faced financial repercussions as its stock price dropped $38.05 per share, or 11.09%, on the day of the outage.

Investors affected by the stock price drop are encouraged to contact Pomerantz LLP for potential participation in a class action lawsuit to address grievances and hold CrowdStrike accountable for financial losses.