This is great. Of course they

This is great. Of course they lacked testing before pushing updates to millions of computers. Not even a basic "sanity test" (a very basic level test to make sure the changes doesn't break the system) was performed. Else it would detect such a show-stopper issue. This was a criminal level negligence by software engineers and the management of the company itself. This highlights how broken the development and deployment processes in CS. It was laughable they do cybersecurity with such a mindset.

CrowdStrike Is Sued by Shareholders over Huge Software Outage

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Of course they lacked testing before pushing updates to millions of computers. Not even a basic \"sanity test\" (a very basic level test to make sure the changes doesn't break the system) was performed. Else it would detect such a show-stopper issue. This was a criminal level negligence by software engineers and the management of the company itself. This highlights how broken the development and deployment processes in CS. It was laughable they do cybersecurity with such a mindset.&nbsp;</p></body></html>","htmlText":"<html><head></head><body><p>This is great. Of course they lacked testing before pushing updates to millions of computers. Not even a basic \"sanity test\" (a very basic level test to make sure the changes doesn't break the system) was performed. Else it would detect such a show-stopper issue. This was a criminal level negligence by software engineers and the management of the company itself. This highlights how broken the development and deployment processes in CS. It was laughable they do cybersecurity with such a mindset.&nbsp;</p></body></html>","text":"This is great. Of course they lacked testing before pushing updates to millions of computers. Not even a basic \"sanity test\" (a very basic level test to make sure the changes doesn't break the system) was performed. Else it would detect such a show-stopper issue. This was a criminal level negligence by software engineers and the management of the company itself. This highlights how broken the development and deployment processes in CS. It was laughable they do cybersecurity with such a mindset.","highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/333597894775024","repostId":2456196031,"repostType":2,"repost":{"id":"2456196031","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1722488791,"share":"https://www.laohu8.com/m/news/2456196031?lang=&edition=full","pubTime":"2024-08-01 13:06","market":"us","language":"en","title":"CrowdStrike Is Sued by Shareholders over Huge Software Outage","url":"https://stock-news.laohu8.com/highlight/detail?id=2456196031","media":"Reuters","summary":"By Jonathan Stempel      July 31 (Reuters) - CrowdStrike    has been sued by shareholders who said the cybersecurity company defrauded them by concealing how its inadequate software testing could caus","content":"<html><head></head><body><p>July 31 (Reuters) - CrowdStrike has been sued by shareholders who said the cybersecurity company defrauded them by concealing how its inadequate software testing could cause the July 19 global outage that crashed more than 8 million computers.</p><p>In a proposed class action filed on Tuesday night in the Austin, Texas federal court, shareholders said they learned that CrowdStrike&#39;s assurances about its technology were materially false and misleading when a flawed software update disrupted airlines, banks, hospitals and emergency lines around the world.</p><p>They said CrowdStrike&#39;s share price fell 32% over the next 12 days, wiping out $25 billion of market value, as the outage&#39;s effects became known, Chief Executive George Kurtz was called to testify to the U.S. Congress, and Delta Air Lines reportedly hired prominent lawyer David Boies to seek damages.</p><p>The complaint cites statements including from a March 5 conference call where Kurtz characterized CrowdStrike&#39;s software as &#34;validated, tested and certified.&#34;</p><p>In a statement on Wednesday, Austin-based CrowdStrike said: &#34;We believe this case lacks merit and we will vigorously defend the company,&#34; Kurtz and Chief Financial Officer Burt Podbere are also defendants.</p><p>The lawsuit led by the Plymouth County Retirement Association of Plymouth, Massachusetts, seeks unspecified damages for holders of CrowdStrike Class A shares between Nov. 29, 2023 and July 29, 2024.</p><p>Shareholders often sue companies after unexpected negative news causes stock prices to fall, and CrowdStrike could face more lawsuits.</p><p>Delta Chief Executive Ed Bastian told CNBC on Wednesday that the outage cost his airline $500 million, including lost revenue and compensation and hotels for stranded fliers.</p><p>CrowdStrike shares closed on Wednesday down $1.69 at $231.96. They closed at $343.05 on the day before the outage.</p><p>The case is Plymouth County Retirement Association v CrowdStrike Inc et al, U.S. District Court, Western District of Texas, No. 24-00857.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>CrowdStrike Is Sued by Shareholders over Huge Software Outage</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCrowdStrike Is Sued by Shareholders over Huge Software Outage\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2024-08-01 13:06</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>July 31 (Reuters) - CrowdStrike has been sued by shareholders who said the cybersecurity company defrauded them by concealing how its inadequate software testing could cause the July 19 global outage that crashed more than 8 million computers.</p><p>In a proposed class action filed on Tuesday night in the Austin, Texas federal court, shareholders said they learned that CrowdStrike&#39;s assurances about its technology were materially false and misleading when a flawed software update disrupted airlines, banks, hospitals and emergency lines around the world.</p><p>They said CrowdStrike&#39;s share price fell 32% over the next 12 days, wiping out $25 billion of market value, as the outage&#39;s effects became known, Chief Executive George Kurtz was called to testify to the U.S. Congress, and Delta Air Lines reportedly hired prominent lawyer David Boies to seek damages.</p><p>The complaint cites statements including from a March 5 conference call where Kurtz characterized CrowdStrike&#39;s software as &#34;validated, tested and certified.&#34;</p><p>In a statement on Wednesday, Austin-based CrowdStrike said: &#34;We believe this case lacks merit and we will vigorously defend the company,&#34; Kurtz and Chief Financial Officer Burt Podbere are also defendants.</p><p>The lawsuit led by the Plymouth County Retirement Association of Plymouth, Massachusetts, seeks unspecified damages for holders of CrowdStrike Class A shares between Nov. 29, 2023 and July 29, 2024.</p><p>Shareholders often sue companies after unexpected negative news causes stock prices to fall, and CrowdStrike could face more lawsuits.</p><p>Delta Chief Executive Ed Bastian told CNBC on Wednesday that the outage cost his airline $500 million, including lost revenue and compensation and hotels for stranded fliers.</p><p>CrowdStrike shares closed on Wednesday down $1.69 at $231.96. They closed at $343.05 on the day before the outage.</p><p>The case is Plymouth County Retirement Association v CrowdStrike Inc et al, U.S. District Court, Western District of Texas, No. 24-00857.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4588":"碎股","LU1992135472.HKD":"ALLIANZ GLOBAL INTELLIGENT CITIES \"AT\" (HKD) ACC","BK4551":"寇图资本持仓","DAL":"达美航空","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU1951198990.SGD":"Natixis Thematics AI & Robotics Fund H-R/A SGD-H","BK4008":"航空公司","LU1548497426.USD":"安联环球人工智能AT Acc","BK4560":"网络安全概念","LU1267930227.SGD":"TEMPLETON GLOBAL BALANCED \"AS\" (SGD) ACC A","LU1951200564.SGD":"Natixis Thematics AI & Robotics Fund R/A SGD","LU2125909593.SGD":"Natixis Thematics Meta R/A SGD","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","IE00BFMHRM44.USD":"NEUBERGER BERMAN GLOBAL EQUITY MEGATRENDS \"A\" (USD) ACC","LU1923623000.USD":"Natixis Thematics AI & Robotics Fund R/A USD","LU1917777945.USD":"安联专题基金Cl AT Acc","LU2125909247.SGD":"Natixis Thematics Meta H-R/A SGD","BK4528":"SaaS概念","LU1974910355.USD":"Allianz Thematica Cl AMg DIS USD","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU2433249047.HKD":"THEMATICS META \"R/A\" (HKD) ACC","IE00B894F039.SGD":"Legg Mason ClearBridge - US Aggressive Growth A Acc SGD-H","LU1923622614.USD":"Natixis Thematics Meta R/A USD","BK4532":"文艺复兴科技持仓","CRWD":"CrowdStrike Holdings, Inc.","LU2286300806.USD":"Allianz Cyber Security AT Acc USD","LU0052756011.USD":"TEMPLETON GLOBAL BALANCED \"A\" (USD) INC","LU2106854487.HKD":"ALLIANZ THEMATICA \"AMG\" (HKD) INC","IE00BZ9MQY76.HKD":"FTGF CLEARBRIDGE US AGGRESSIVE GROWTH \"A\" (HKD) ACC","LU2125909759.SGD":"Natixis Thematics Safety H-R/A SGD","BK4585":"ETF&股票定投概念","LU2125909916.SGD":"Natixis Thematics Safety R/A SGD","LU1992135399.USD":"Allianz Global Intelligent Cities AT Acc USD","LU2023250504.SGD":"Allianz Thematica Cl AMg DIS H2-SGD","LU2272731782.SGD":"Allianz Global Intelligent Cities AM Dis H2-SGD","LU1923622291.USD":"Natixis Thematics Safety R/A USD","BK4097":"系统软件","IE00B19Z9P08.USD":"LEGG MASON CLEARBRIDGE US AGGRESSIVE GROWTH \"A\" (USD) INC","LU0128525689.USD":"TEMPLETON GLOBAL BALANCED \"A\"(USD) ACC","LU2272731600.USD":"Allianz Global Intelligent Cities AM Dis USD","BK4500":"航空公司","LU0310800965.SGD":"FTIF - Templeton Global Balanced A Acc SGD","IE00B19Z9Z06.USD":"Legg Mason ClearBridge - US Aggressive Growth A Acc USD"},"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2456196031","content_text":"July 31 (Reuters) - CrowdStrike has been sued by shareholders who said the cybersecurity company defrauded them by concealing how its inadequate software testing could cause the July 19 global outage that crashed more than 8 million computers.In a proposed class action filed on Tuesday night in the Austin, Texas federal court, shareholders said they learned that CrowdStrike's assurances about its technology were materially false and misleading when a flawed software update disrupted airlines, banks, hospitals and emergency lines around the world.They said CrowdStrike's share price fell 32% over the next 12 days, wiping out $25 billion of market value, as the outage's effects became known, Chief Executive George Kurtz was called to testify to the U.S. Congress, and Delta Air Lines reportedly hired prominent lawyer David Boies to seek damages.The complaint cites statements including from a March 5 conference call where Kurtz characterized CrowdStrike's software as \"validated, tested and certified.\"In a statement on Wednesday, Austin-based CrowdStrike said: \"We believe this case lacks merit and we will vigorously defend the company,\" Kurtz and Chief Financial Officer Burt Podbere are also defendants.The lawsuit led by the Plymouth County Retirement Association of Plymouth, Massachusetts, seeks unspecified damages for holders of CrowdStrike Class A shares between Nov. 29, 2023 and July 29, 2024.Shareholders often sue companies after unexpected negative news causes stock prices to fall, and CrowdStrike could face more lawsuits.Delta Chief Executive Ed Bastian told CNBC on Wednesday that the outage cost his airline $500 million, including lost revenue and compensation and hotels for stranded fliers.CrowdStrike shares closed on Wednesday down $1.69 at $231.96. They closed at $343.05 on the day before the outage.The case is Plymouth County Retirement Association v CrowdStrike Inc et al, U.S. District Court, Western District of Texas, No. 24-00857.","news_type":1},"isVote":1,"tweetType":1,"viewCount":135,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"upFlag":false,"length":418,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/333597894775024"}