Kyndryl (US:KD) Prnewswire·2026-03-08 20:26Core Viewpoint - A securities fraud class action lawsuit has been filed against Kyndryl Holdings, Inc. for alleged material misstatements regarding cash management practices and internal controls over financial reporting [1] Summary by Relevant Sections Lawsuit Details - The lawsuit is filed on behalf of investors who purchased Kyndryl securities between August 7, 2024, and February 9, 2026 [1] - The case is registered in the United States District Court for the Eastern District of New York, titled Brander v. Kyndryl Holdings, Inc., Case No. 1:26-cv-00782 (E.D.N.Y.) [1] - Investors have until April 13, 2026, to file for lead plaintiff status [1] Allegations - The complaint alleges that Kyndryl's financial statements during the class period were materially misstated [1] - It claims that Kyndryl lacked adequate internal controls and materially understated issues with these controls [1] - The company is expected to report material weaknesses in its internal control over financial reporting [1] Stock Price Impact - Following the announcement of the departure of Kyndryl's CFO and General Counsel on February 9, 2026, the stock price fell over 54%, from $23.49 on February 6, 2026, to $10.59 on February 9, 2026 [1] Investor Actions - Investors can retain counsel or contact Kessler Topaz Meltzer & Check, LLP for a free case evaluation [1] - They may also file to be lead plaintiff by the April 13, 2026 deadline [1] About Kessler Topaz Meltzer & Check, LLP - KTMC is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and has recovered over $25 billion for clients [1]