Kyndryl (US:KD) Globenewswire·2026-03-13 14:52Core Viewpoint - A securities fraud class action lawsuit has been filed against Kyndryl Holdings, Inc. for alleged material misstatements and omissions regarding its financial practices and internal controls during the specified class period [2][4]. Group 1: Lawsuit Details - The lawsuit is filed on behalf of investors who purchased Kyndryl securities between August 7, 2024, and February 9, 2026, and is pending in the United States District Court for the Eastern District of New York [2][6]. - Investors have until April 13, 2026, to file for lead plaintiff status in the lawsuit [6][7]. - The key allegations include that Kyndryl's financial statements were materially misstated and that the company lacked adequate internal controls [4][6]. Group 2: Stock Performance and Impact - Kyndryl's stock price dropped over 54% following the announcement of the departure of the CFO and General Counsel on February 9, 2026, closing at $10.59 from $23.49 on February 6, 2026 [5]. - The company disclosed that it is reviewing its cash management practices and anticipates reporting material weaknesses in its internal control over financial reporting [5]. Group 3: Investor Actions - Kyndryl investors are encouraged to contact Kessler Topaz Meltzer & Check, LLP for a free case evaluation and to discuss their legal rights [3][9]. - Investors can choose to file for lead plaintiff status, contact the law firm for evaluation, or take no action and remain absent class members [7][8].