Court Axes Investor Lawsuit Over CrowdStrike Software Update
AI Summary
• Judge dismissed most claims from investors accusing CrowdStrike of misrepresenting its software testing rigor before a July 2024 outage.
• Two statements about federal compliance could plausibly be misleading, but plaintiffs failed to establish intent or recklessness.
Texas Relevance
The article does not mention Texas, TCUD, or any Texas-specific entities. It focuses on a securities case involving CrowdStrike software and its implications for investor claims.
Original Content
Misstatement Claims Tossed in Class-Action Securities Case After CrowdStrike Outage A U.S. district judge tossed most claims from investors accusing CrowdStrike of misrepresenting its software testing rigor before a July 2024 outage. The judge said two statements about federal compliance could plausibly be misleading, but said plaintiffs failed to establish intent or recklessness.