[S]hareholders 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.
I don’t see how they can make this argument.
Falcon is a kernel module. When kernel modules fuck up, you get kernel panics.
Sure, the layperson may not know enough about computers to recognize this, but it’s a basic enough fact about operating systems that an investor in a company like this should take the time to learn. It’s not like they hid that fact.
If you invested in a company without knowing how their product works, that’s on you.
I hold no love for investors (even though pension funds rely on them, as shown by the lead plaintiff), but this seems pretty warranted if the company makes claims which are contrary to reality.