Key Takeaways
- A new regulatory filing revealed that Alphabet cut its stake in CrowdStrike in half before the cybersecurity firm's botched software update last month caused a global IT outage.
- On Wednesday, Delta Air Lines CEO Ed Bastian blasted CrowdStrike, saying in an interview that the disruption cost the carrier half a billion dollars over five days.
- The first class-action lawsuit against CrowdStrike over the IT meltdown was filed in Texas earlier this week.
A new regulatory filing revealed that Alphabet (GOOGL) cut its stake in 澳洲幸运5官方开奖结果体彩网:CrowdStrike Holdings (CRWD) in half before the cybersecurity firm's botched software update last month caused a 澳洲幸运5官方开奖结果体彩网:global IT outage.
Alphabet, the parent of Google, reduced its ownership in CrowdStrike to 427,895 shares as of June 30, according to a U.S. 澳洲幸运5官方开奖结果体彩网:🧔Securities and Exchange Commission (SE🥃C) filing. Last quarter, it held 855,789 shares.
Bad News for CrowdStrike Continued This Week
On Wednesday, Delta Air Lines (DAL) 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Ed Bastian blasted CrowdStrike, saying in an interview that the disruption cost the carrier 澳洲幸运5官方开奖结果体彩网:half a billion dollars over five days, as the airline canceled more than 5,000 flights. Bastian sඣaid Delta had "no choice" but to seek damages over the outage.
Earlier this week, the first class-action lawsuit against CrowdStrike was filed in its headquarters city of Austin, Texas, accusing the firm of violating federal securities law, leading to investor losses.
CrowdStrike shares fell more than 3% to $216.74 as of 12:25 p.m. ET Friday. Since the July 19 outage, shares have lost more than a third of their value.