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mass strike The company’s shares plunged 11% on Tuesday to their lowest level this year after reports that Delta Airlines Recruited prominent attorney David Boies to seek damages from the security software vendor.
CrowdStrike was down $28.98 at $228.83 by mid-afternoon trading. The company has lost a third of its value since July 19, when a software update for CrowdStrike caused a historic outage of Microsoft systems that paralyzed many industries, including airlines.
Late Monday, CNBC’s Phil Lebeau reported that Delta Air Lines hired Boies Schiller Flexner, chairman of the board, to CrowdStrike and Microsoft. No lawsuit has been filed and Delta Air Lines did not respond to a request for comment, LeBeau reported.
Delta Air Lines is processing more than 176,000 refund or reimbursement requests after nearly 7,000 flights were canceled. The outage cost airlines an estimated $350 million to $500 million.
The U.S. Department of Transportation said last week it was investigating Delta Air Lines due to widespread flight disruptions and service failures.
Boycein represent The U.S. government launched a landmark antitrust lawsuit against Microsoft and helped win a ruling that overturned California’s same-sex marriage ban. He has also worked with jailed former Hollywood mogul Harvey Weinstein and Theranos founder Elizabeth Holmes, who is currently serving time in prison for defrauding investors.
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