Nikhil Sharad’s Post

Very interesting…. Interesting that it was Plymouth County Retirement Association (Massachusetts) that initially filed the lawsuit and also that the focus of the class action seems to focus not only on the false claims of secure software update practices, but also that CrowdStrike mislead investors in a situation that enabled their stock to trade artificially high, especially taking into account the risks in how the platform was managed. In other related news, Delta CEO claims the incident cost Delta $500 million forcing them to have no choice but to seek damages. What will be the net impact of this incident on CrowdStrike? #crowdstrike #lawsuit #material #financialimpact

If you are into reading class action lawsuits (and who isn't!), here's the lawsuit filed against CrowdStrike, their #CEO and #CFO. Their 10-Q disclosure includes the following: The following factors, many of which are beyond our control, can affect the delivery, availability, and the performance of our Falcon platform: • errors, defects or performance problems in our software, including third-party software incorporated in our software; ***** Will be interesting to see how this proceeds. #QTE #corpgov Digital Directors Network

LFG summarizes and gives a breakdown of last Friday's global IT disruption caused by the Crowdstrike update. https://wix.to/X4Hmb49 #thirdpartyrisk #cyberassessments #operationalrisk #lfgsecurityconsulting

Check out LFG's new blog post on Friday's global IT disruption caused by Crowdstrike; we give a quick summary while providing some thoughts on minimizing your vulnerability to future, similar issues. 🐐

📊 CrowdStrike ($CRWD) will be in the earnings spotlight tomorrow, and in spite of the July software outage, is expected to report strong results. - Get important news highlights for CrowdStrike at https://lnkd.in/gjFgha-b. - Learn about how customer bookings were affected and ask follow up questions if you have more. - See why analysts are still bullish on CRWD and are confident in management's ability to successfully weather through tough times. #crwd #stockinvesting #investing #stockMarkets #GenerativeAI

Global IT outages have impacted various sectors worldwide, from Airports to Stock Exchanges, all due to an update glitch. The focus now shifts to accountability as Crowdstrike's actions resulted in business shutdowns and customer inconvenience. This raises essential questions on liability: Should product companies be accountable for software glitches, akin to service providers facing consequences for SLA breaches? Crowdstrike's role in shutting down businesses and causing customer inconvenience sparks the debate on responsibility. Will companies impose penalties? Can affected individuals seek compensation for their losses? #IToutages #accountability #softwareglitches #crowdstrike Firstpost.

As the blue screens 💻 descended worldwide on Friday; queues forming at airports 🛫, customers unable to pay ⚠️, staff unable to log on 🆘, and doctors treating patients without access to medical records 📈 it showed the importance of IT processes and service level agreements. The Crowdstrike outage was widespread because of poor testing processes. So many businesses have reduced spend on #technology processes and support; relying on auto updates, no longer taking the time to test thoroughly before releasing updates live. So often when negotiating #Technology agreements, the Service Level Agreement is the after thought, the Schedule no one wants to review (except me!). The focus is on the fees - the costs - not prioritising quality and good practice. We can’t avoid software issues like we saw on Friday, but we can minimise the impact with testing and best practice. A reminder to consider the SLA’s, testing and QA processes with the same priority as the financial metrics going forward. #technology #techlawyer #crowdstrike #bluescreenofdeath #crowdstrike #outage #globaloutage #SLA

The impact can be seen everywhere.

#InTheNews | Beyond the Blue Screen: CrowdStrike Outage Exposes Fragility of Our Connected World. «We’ll see how litigious customer organizations get. The economic impact could be huge. So at some point, CrowdStrike will have to limit its liability, but it’s premature right now. So much is unknown, again, including how aggressive these affected organizations are going to be toward CrowdStrike.» #CyberCrisis #TechFragility #ITDisasterRecovery #CybersecurityChallenge #BusinessResiliency #UpdateFailure #CrowdStrikeIncident #SystemOutage #TechDependency #InfrastructureVulnerability https://lnkd.in/dApGfMQp via SiliconANGLE & theCUBE

Global IT outages have impacted various sectors worldwide, from Airports to Stock Exchanges, all due to an update glitch. The focus now shifts to accountability as Crowdstrike's actions resulted in business shutdowns and customer inconvenience. This raises essential questions on liability: Should product companies be accountable for software glitches, akin to service providers facing consequences for SLA breaches? Crowdstrike's role in shutting down businesses and causing customer inconvenience sparks the debate on responsibility. Will companies impose penalties? Can affected individuals seek compensation for their losses? hashtag #IToutages #accountability #softwareglitches #crowdstrike