Kyndryl (US:KD) Globenewswire·2026-02-21 11:47Core Viewpoint - A class action lawsuit has been filed against Kyndryl Holdings, Inc. and certain senior executives for securities fraud following significant stock drops due to potential violations of federal securities laws [1][3]. Group 1: Company Overview - Kyndryl is a provider of enterprise technology services, offering advisory, implementation, and managed service capabilities to customers in over 60 countries, making it the world's largest IT infrastructure services provider [4]. Group 2: Allegations and Stock Impact - Kyndryl is accused of misrepresenting its cash management practices, including the drivers of its adjusted free cash flow metric and the effectiveness of its internal controls over financial reporting for FY2025 and the first three quarters of FY2026 [5]. - On February 9, 2026, Kyndryl announced a delay in releasing its fiscal Q3 2026 financial statement due to an accounting review of its cash management practices, leading to the immediate departures of its CFO and General Counsel [6]. - Following this announcement, Kyndryl's stock price dropped over 52% during trading on February 9, 2026 [7].