I know nothing much about Linux. I just know that our IT guy manages some super-secret-squirrel systems for DoD and takes good care of us on the side.
Plus he gets along with SGI....a difficult task for anyone to manage.
Internet Outage
- Thread starter Sneakers
- Start date
Plus he gets along with SGI....a difficult task for anyone to manage.
According to the July 30 complaint filed in the United States District Court in the Western District of Texas, CrowdStrike’s Chief Executive George Kurtz characterized CrowdStrike’s Falcon software as “validated, tested and certified” during a conference call on March 5.
The plaintiffs say these statements were “false and misleading” because CrowdStrike allegedly failed to properly test and update its Falcon software before rolling it out to customers.
The complaint alleges CrowdStrike “instituted deficient controls in its procedure for updating Falcon, and was not properly testing updates to Falcon before rolling them out to customers.” CrowdStrike did not disclose that “this inadequate software testing created a substantial risk that an update to Falcon could cause major outages for a significant number of the Company’s customers.”
“Such outages could pose, and in fact ultimately created, substantial reputational harm and legal risk to CrowdStrike,” the complaint alleges. “As a result of these materially false and misleading statements and omissions, CrowdStrike stock traded at artificially high prices during the Class Period.”
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The plaintiffs say these statements were “false and misleading” because CrowdStrike allegedly failed to properly test and update its Falcon software before rolling it out to customers.
The complaint alleges CrowdStrike “instituted deficient controls in its procedure for updating Falcon, and was not properly testing updates to Falcon before rolling them out to customers.” CrowdStrike did not disclose that “this inadequate software testing created a substantial risk that an update to Falcon could cause major outages for a significant number of the Company’s customers.”
“Such outages could pose, and in fact ultimately created, substantial reputational harm and legal risk to CrowdStrike,” the complaint alleges. “As a result of these materially false and misleading statements and omissions, CrowdStrike stock traded at artificially high prices during the Class Period.”
CrowdStrike Hit With Class Action Lawsuit From Shareholders Over Software Outage
Following the outage, the legal complaint says CrowdStrike’s share price to fall 32 percent over the next 12 days, wiping out $25 billion of market value.