CrowdStrike's stock continues to face the fallout of the software company's massive IT outage.AP Photo/Ross D. FranklinCrowdStrike's stock is down 34% since its software update caused a mass outage on July 19.The stock fell as much as 13% on Tuesday alone after heavily-hit Delta reportedly hired a lawyer.No suit has been filed, but Delta plans to seek compensation from CrowdStrike, CNBC said.The fallout of CrowdStrike's massive IT outage continues to wreak havoc on the company's stock as reports surface of potential legal action from Delta.CrowdStrike's stock fell as much as 13% on Tuesday, extending its losses since the July 19 outage to 34% and pushing shares to their lowest level of 2024.The continued fallout comes after CNBC reported that Delta hired attorney David Boies — chairman of Boies Schiller Flexner — to seek compensation for outage-related damages, according to CNBC.Boies has made headlines in several high-profile cases over the last three decades, representing the likes of Theranos founder Elizabeth Holmes, former Vice President Al Gore, and former Hollywood movie mogul and convicted sex offender Harvey Weinstein.

BING NEWS:
  • CrowdStrike Faces Short-Term Challenges Like Pipeline Delays, Deal Scrutiny, and Discounting Pressure, Analyst Says
    Temporary discounting to retain customers post-outage, but long-term pricing pressures loom in cybersecurity market. BofA Securities analyst Tal Liani maintained a Buy rating on CrowdStrike ...
    09/4/2024 - 1:49 am | View Link
  • CrowdStrike Lowers Guidance Due to Outage Impact. Is The Worst Over for the Stock?
    However, it added that the "vast majority" were still in its pipeline. The company highlighted two large post-outage wins but said it has more than $60 million in deals that it has a line of sight ...
    09/1/2024 - 10:11 pm | View Link
  • What You Need To Know Ahead of CrowdStrike's Earnings Report
    CrowdStrike could face legal action from customers affected by the outage, with some estimates indicating it could cost the affected companies several billion dollars in losses. Delta Air Lines ...
    08/27/2024 - 1:00 pm | View Link
  • CrowdStrike-Delta legal face-off could end up in settlement: Citi
    Citi weighed in on potential legal ramifications for CrowdStrike (NASDAQ:CRWD) post-outage, ahead of the ... scope especially in relation to Delta Air Lines (DAL). Boolani and her team said ...
    08/27/2024 - 3:13 am | View Link
  • CrowdStrike Stock Price Levels to Watch as Post-Outage Earnings Report Looms
    Tim Smith has 20+ years of experience in the financial services industry, both as a writer and as a trader. CrowdStrike shares are in the spotlight this week as the cybersecurity company prepares ...
    08/26/2024 - 12:32 am | View Link
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