Kyndryl (US:KD) Globenewswire·2026-03-19 13:39Core Viewpoint - A class action lawsuit has been filed against Kyndryl Holdings, Inc. for allegedly misleading investors regarding its financial statements and internal controls during the specified Class Period [1][3]. Group 1: Lawsuit Details - The lawsuit is on behalf of investors who acquired Kyndryl securities from August 1, 2024, to February 9, 2026 [1][2]. - Investors have until April 13, 2026, to seek appointment as lead plaintiff representatives [2]. Group 2: Allegations - The Complaint alleges that Kyndryl's financial statements were materially misstated during the Class Period [3]. - It is claimed that Kyndryl lacked adequate internal controls and understated issues related to these controls [3]. - The company failed to file its Quarterly Report on Form 10-Q for the quarter ended December 31, 2025, due to these issues [3]. Group 3: Market Reaction - Following the revelation of material weaknesses in internal controls and an SEC investigation into Kyndryl's cash management practices on February 9, 2026, Kyndryl's shares plummeted by 55%, resulting in significant losses for investors [4].