Crowdstrike isn’t a company anymore, this is probably their end. The litigation will be death by thousand cuts.
Typically there would also be some clauses where CS is the only one that is allowed to determine an SLA breach, SLA breaches only result in future licence credits no cash, and if you disagree it's limited to mandatory arbitration...
The biggest impact is probably only their reputation taking a huge hit. Loosing some customers over this and making it harder to win future business.
Commenter on stack exchange had an interesting counter: In some jurisdictions, any attempt to sidestep consumer law may be interpreted by the courts as conspiracy, which can prove more serious than merely accepting the original penalties.
i would imagine a class action suit instead of individual cases if this were to happen.
one possibility is: clawback or refunds for past payments equal to business damage caused by the flawed product.
To be clear, I feel investors are a bit delusional, I just thought it was an interesting perspective to share.
On the other hand, this may open the veil for a lot of companies to dump them.