👀 Ones to watch: The MOST undervalued stocks to buy right nowSee Undervalued Stocks

US congressional panel calls on CrowdStrike CEO to testify on outage

Published 07/22/2024, 04:11 PM
Updated 07/22/2024, 08:17 PM
© Reuters. FILE PHOTO: George Kurtz, president CEO and Co-Founder at CrowdStrike speaks at the WSJTECH live conference in Laguna Beach, California, U.S. October 21, 2019. REUTERS/ Mike Blake/File Photo
MSFT
-
CRWD
-

By Kanishka Singh

WASHINGTON (Reuters) -The U.S. House of Representatives Homeland Security Committee has sent a letter to CrowdStrike (NASDAQ:CRWD) CEO George Kurtz asking him to testify on last week's global tech outage.

WHY IT'S IMPORTANT

CrowdStrike's glitchy update to its security software crashed computers powered by Microsoft (NASDAQ:MSFT)'s Windows operating system on Friday, disrupting internet services across the globe and affecting a broad swath of industries including airlines, banking and healthcare. Microsoft said on Saturday about 8.5 million Windows devices were affected.

Services across industries gradually came back online later on Friday but companies were dealing with backlogs, delays, canceled flights and other issues, raising questions on how to avoid such a situation in the future and whether such critical software should remain in the hands of a few companies.

KEY QUOTES

"While we appreciate CrowdStrike's response and coordination with stakeholders, we cannot ignore the magnitude of this incident, which some have claimed is the largest IT outage in history," the congressional panel wrote in its letter to Kurtz dated Monday. The letter was reported first by the Washington Post.

"CrowdStrike is actively in contact with relevant Congressional Committees. Briefings and other engagement timelines may be disclosed at members' discretion," a company spokesperson said.

© Reuters. FILE PHOTO: George Kurtz, president CEO and Co-Founder at CrowdStrike speaks at the WSJTECH live conference in Laguna Beach, California, U.S. October 21, 2019. REUTERS/ Mike Blake/File Photo

WHAT'S NEXT

The letter urges the CEO to schedule a hearing with a subcommittee of the panel - the Subcommittee on Cybersecurity and Infrastructure Protection - by Wednesday.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.