Kyndryl (US:KD) Globenewswire·2026-02-17 01:24Core Viewpoint - A class action has been filed against Kyndryl Holdings, Inc. for allegedly materially misstating its financial statements and lacking adequate internal controls, leading to a significant drop in stock price following the announcement of a late filing and an SEC investigation [1][2][3]. Group 1: Allegations and Financial Misstatements - The complaint alleges that Kyndryl's financial statements during the class period were materially misstated [2]. - It is claimed that Kyndryl lacked adequate internal controls and at times materially understated issues with its internal controls [2]. - The company announced it would be unable to timely file its Quarterly Report on Form 10-Q for the quarter ended December 31, 2025, which triggered the investigation by the SEC [2][3]. Group 2: Stock Price Impact - Following the announcement of the late filing and the SEC investigation, Kyndryl's stock price fell by $12.90 per share, or 55%, closing at $10.59 on February 9, 2026 [3]. Group 3: Class Action Participation - Shareholders may be eligible to participate in the class action against Kyndryl, with a deadline to submit papers to serve as lead plaintiff by April 13, 2026 [4]. - Shareholders do not need to participate in the case to be eligible for recovery and can remain absent class members if they choose [4]. Group 4: Legal Representation - Robbins LLP operates on a contingency fee basis, meaning shareholders pay no fees or expenses [5].