From PC Mag: Following last week's update disaster, CrowdStrike shareholders are suing the cybersecurity company over its plummeting stock price.
The Plymouth County Retirement Association, which bought shares in CrowdStrike, filed a securities class-action lawsuit against the Texas-based cybersecurity vendor, demanding it pay damages for the stock price losses.
Prior to last Friday’s outage, CrowdStrike’s stock had been trading at historic highs, around $390 to $350. But the price has since fallen to $232 per share. The Plymouth County Retirement Association now wants compensation over claims CrowdStrike deceived shareholders about its Falcon security software, which accidentally caused the outage through a faulty update that bricked millions of PCs and servers.
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