Kyndryl Holdings, Inc.

Shares of Kyndryl Holdings fell more than 50% in intraday trading on February 9, 2026, after the company disclosed an internal accounting review, a delay in filing its quarterly report, and the departure of its Chief Financial Officer, David Wyshner. Kyndryl said the review involves cash management practices, related disclosures, and internal control over financial reporting, and follows document requests from the SEC. The company said it does not expect a restatement but expects to report material weaknesses in internal control over financial reporting for FY25 and the first three quarters of FY26.

A lawsuit has been filed against Kyndryl, alleging that they made false and/or misleading statements and/or failed to disclose that: (1) Kyndryl’s financial statements issued during the Class Period were materially misstated; (2) Kyndryl lacked adequate internal controls and at times materially understated issues with its internal controls; (3) as a result, Kyndryl would be unable to timely file its Quarterly Report on Form 10-Q for the quarter ended December 31, 2025; and (4) as a result, defendants’ statements about Kyndryl’s business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all times.