The proposed securities class action was filed in Texas on July 30 in the wake of a seismic July 19 global outage, caused by a single flawed software update, that crashed millions of computers, canceled flights, disrupted hospitals and banks, and reportedly caused billions in damages for hundreds of corporations across myriad industries around the world. Since the CrowdStrike outage, cybersecurity experts have contended that the company took "insufficient precautions" regarding updates such as the one blamed for the worldwide crash, the complaint relays. Specifically, CrowdStrike allegedly failed to disclose to investors that it had implemented "deficient controls" in its procedure for updating its Falcon AI and machine learning platform, that it was "not properly testing updates" before rolling them out, and that this inadequate testing posed a substantial risk that an update could cause major outages affecting many CrowdStrike customers.