Kyndryl (US:KD) Globenewswire·2026-02-12 19:54Core Viewpoint - A class action lawsuit has been filed against Kyndryl Holdings, Inc. for allegedly making false statements and failing to disclose material weaknesses in internal controls, leading to significant investor losses when the truth emerged [1][3][4]. Group 1: Lawsuit Details - The lawsuit is on behalf of investors who acquired Kyndryl securities from August 7, 2024, to February 9, 2026 [1]. - Investors have until April 13, 2026, to seek appointment as lead plaintiff representatives [2]. - The complaint alleges that Kyndryl's financial statements were materially misstated and that the company lacked adequate internal controls [3]. Group 2: Impact on Investors - On February 9, 2026, Kyndryl's shares fell by 55% following the revelation of material weaknesses in internal controls and an SEC investigation into cash management practices [4]. - Investors suffered heavy losses as a result of the decline in share value [4]. Group 3: Company Overview - Kyndryl is headquartered in New York and provides IT infrastructure services to enterprise customers globally [2].