CrowdStrike Investors Alerted to Class Action Lawsuit Deadline in September 2024
- Levi & Korsinsky, LLP has filed a class action lawsuit against CrowdStrike Holdings, Inc. for alleged securities fraud.
- The lawsuit covers a period from November 29, 2023, to July 29, 2024, during which CrowdStrike reportedly failed to properly test software updates for its product, Falcon.
- Investors affected by these issues have until September 30, 2024, to participate in the lawsuit, which poses no cost or obligation.
On September 13, 2024, Levi & Korsinsky, LLP announced a class action securities lawsuit against CrowdStrike Holdings, Inc. The lawsuit targets investors who experienced losses due to alleged securities fraud occurring between November 29, 2023, and July 29, 2024. The complaint claims that CrowdStrike failed to maintain adequate controls in updating its main product software, Falcon, which led to significant risks of outages for customers. The allegations suggest that the company did not properly test software updates before deployment, resulting in potential major disruptions for users. These failures not only jeopardized customer operations but also posed substantial reputational harm and legal risks to CrowdStrike. Consequently, the stock price was artificially inflated during the class period, misleading investors about the company's true operational stability. Investors who suffered losses during this timeframe have until September 30, 2024, to request appointment as lead plaintiff in the case. Participation in the lawsuit does not require serving as a lead plaintiff, and there are no costs or obligations for those who choose to join. Levi & Korsinsky has a strong track record in securities litigation, having secured significant recoveries for shareholders over the past two decades. The firm has consistently ranked among the top securities litigation firms in the United States, indicating its capability to handle high-stakes cases effectively.