CrowdStrike Shareholders Drop Board Suit Over Massive IT Outage

CrowdStrike Holdings Inc. executives and board members were freed from a stockholder lawsuit alleging they misled investors before a glitch in its cybersecurity software platform caused shutdowns globally in the summer of 2024.

The shareholders’ agreement to drop the consolidated derivative action Tuesday came after Judge Robert Pitman dismissed a proposed class lawsuit hurling similar accusations against the cybersecurity company and top leaders. No appeal was filed within the statutory deadline of his dismissal, they told the US District Court for the Western District of Texas.

• Pitman had given the stockholders in the derivative suit and corporate leaders until Tuesday ...