CrowdStrike stock slips after judge tosses outage lawsuit as CRWD pushes deeper into browser security
CrowdStrike Holdings’ stock fell 1.7% to $459.98 on Wednesday afternoon after a U.S. judge dismissed a shareholder fraud lawsuit stemming from the cybersecurity firm’s July 2024 outage. U.S. District Judge Robert Pitman said investors failed to show the company or its executives misled them about software testing before an update crashed more than 8 million Microsoft Windows computers. The New York State Common Retirement Fund, led by Comptroller Thomas DiNapoli, said the decision was “under review,” while CrowdStrike’s chief legal officer Cathleen Anderson welcomed the dismissal; Delta Air Lines’ separate suit tied to the outage remains active.
