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Crowd Strike Apple shares fell 11% on Tuesday to their lowest level this year after a report that Delta Air Lines She hired prominent attorney David Boies to seek damages from the security software vendor.
CrowdStrike shares were down $28.98 at $228.83 in early afternoon trading. The company has now lost a third of its value since July 19, when a historic outage of Microsoft’s systems, triggered by a CrowdStrike software update, brought a number of industries, including airlines, to a standstill.
Late Monday, CNBC's Phil LeBow reported that Delta had hired Boies Chairman Schiller Flexner to seek compensation from CrowdStrike and MicrosoftNo lawsuit has been filed, Lebois said, and Delta did not respond to a request for comment.
Delta is processing more than 176,000 refund or compensation requests after nearly 7,000 flights were canceled. The disruptions are costing the airline an estimated $350 million to $500 million.
The Department of Transportation said last week it was investigating Delta over widespread flight disruptions and service failures.
Boies is best known for representing the U.S. government in its landmark antitrust case against Microsoft, and for helping win a decision that overturned California’s ban on same-sex marriage. He has also worked with Harvey Weinstein, the imprisoned former Hollywood mogul, and Theranos founder Elizabeth Holmes, who is currently serving a prison sentence for defrauding investors.
WATCH: Delta hires attorney David Boies to seek damages
