AI & Enterprise
Kyndryl shares plunge 55 percent on SEC probe; CFO, general counsel resign
U.S. IT services company Kyndryl said it has been hit by an accounting inquiry and a wave of executive departures, sending its shares down 55 percent in a day. The company disclosed it received a request from the U.S. Securities and Exchange Commission to submit accounting-related documents. The SEC is probing cash management, financial reporting and internal controls. CFO David Wyshner and general counsel Edward Sebold resigned, and the chief people officer left a month earlier.
