NEW YORK, NY / ACCESSWIRE / July 25, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of CrowdStrike Holdings, Inc. ("CrowdStrike") (NASDAQ:CRWD) concerning possible violations of federal securities laws. The morning of July 19, 2024, a software outage caused massive disruptions across numerous businesses, including banks, airlines, TV stations, healthcare providers, and hotels.
The most recent worldwide outage on Microsoft (NASDAQ: MSFT) based operating systems was caused by a faulty security update by CrowdStrike (NASDAQ: CRWD) on July 19, bringing multiple industries to a grinding halt and causing potentially $1.5 billion in insured losses according to the latest research from cyber analytics firm CyberCube on July 25.
NEW YORK, NY / ACCESSWIRE / July 25, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of CrowdStrike Holdings, Inc. ("CrowdStrike") (NASDAQ:CRWD) concerning possible violations of federal securities laws. The morning of July 19, 2024, a software outage caused massive disruptions across numerous businesses, including banks, airlines, TV stations, healthcare providers, and hotels.
PHILADELPHIA, PA / ACCESSWIRE / July 25, 2024 / Kehoe Law Firm, P.C. is investigating whether CrowdStrike Holdings, Inc. ("CrowdStrike") (NASDAQ:CRWD) breached its fiduciary duties to shareholders.
Delta canceled more flights in less than a week due to a global IT outage than it did in two years. Between Friday and Tuesday, Delta canceled 5,470 flights.
Microsoft-supported systems were the only ones affected by the outage. The segment that manages Windows still makes up approximately one-fourth of Microsoft's revenue.
While the cybersecurity industry has generally been a bastion of strength in the tech sector, not all stocks are created equal. Despite the rising threats that drive demand for digital protection, some companies in this space are showing signs of weakness that could lead to significant declines in their stock prices.
CrowdStrike's share price declined by more than 22% over just two trading sessions. Even after that pullback, its valuation remained elevated.
Global insured losses from last week's massive IT outage are likely to range from $400 million to $1.5 billion, cyber analytics firm CyberCube said on Thursday.
Shares of CrowdStrike and Super Micro Computer have fallen over 30% from their record highs, but certain Wall Street analysts expect the stocks to rebound sharply. CrowdStrike is the market leader in endpoint security, due in part to superior artificial intelligence, and it's gaining share in adjacent product categories like cloud workload security.
Fortune 500 companies, excluding Microsoft (MSFT), could lose an estimated $5.4 billion due to theglobal tech outage caused by CrowdStrike (CRWD), according to Parametrix, a cloud monitoring and modeling provider and insurer.
Delta Air Lines is reportedly facing a half-billion dollar hit after last week's IT outage. The air carrier on Wednesday (July 24) was still recovering from last week's incident, in which a software glitch at cybersecurity firm CrowdStrike brought down millions of computers running Microsoft Windows.