BUZZ-CrowdStrike falls on report DoJ, SEC investigating co's deal with Carahsoft

Reuters

Feb 21, 2025

** Shares of cybersecurity firm CrowdStrike CRWD.O fall 1.2% to $430 in early morning trading

** The Justice Department and the Securities and Exchange Commission are investigating CRWD's $32 million deal with Carahsoft to provide cybersecurity tools to the Internal Revenue Service, Bloomberg News reports

** Carahsoft paid CrowdStrike for the deal that the cybersecurity firm closed on the last day of a fiscal quarter in 2023, but the IRS never purchased the products, as per the report

** Investigators have been interviewing people and collecting records related to the deal, according to the report

** CrowdStrike and Carahsoft did not immediately respond to Reuters' requests for comment

** Stock had risen 34% in 2024

(Reporting by Harshita Mary Varghese in Bengaluru)

((HarshitaMary.Varghese@thomsonreuters.com))

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