Delta Airlines (VALLEY) will reportedly seek damages from CrowdStrike (CRWD) And Microsoft (MSFT) for the recent global IT outage that disrupted flights around the world. CrowdStrike shares fell Monday evening, while Microsoft was little changed.
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Delta Air has hired the law firm Boies Schiller Flexner in a step toward obtaining compensation from the software giants, CNBC reported Monday evening. The airline has canceled more than 6,000 flights since the July 19 global IT outage, likely costing Delta hundreds of millions of dollars.
An update to the CrowdStrike program early July 19 caused major IT disruptions worldwide, but only affected Microsoft Windows devices.
Delta Air could be the first of many companies and organizations to seek financial redress from CrowdStrike and perhaps Microsoft.
CrowdStrike shares fall
CRWD shares fell 5.5% Monday evening. Shares rose 1% to 258.81 on Monday. On July 19, CrowdStrike fell 11.1%, followed by a 13.5% plunge the following session.
Shares of Microsoft fell overnight as investors believe the tech giant is less vulnerable to the fallout from the outage, or perhaps so large that it will have little impact. Shares rose 0.3% to 426.73 on Monday, after falling below the 50-day line and hitting a previous buy point of 430.82.
Microsoft’s earnings figures will be released on Tuesday evening.
Delta shares lost a fraction too late. Shares fell 2.15% to 43.18 on Monday, staying just above the 200-day mark.
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