Kit Digital Tumbles Most in Three Years as Board Members Resign

Kit Digital Inc. (KITD) fell the most in three years after the maker of online video software said it accepted the resignations of four board members.

The stock slid as much as 26 percent, its biggest intraday decline since March 2009, and traded down 22 percent to $6.39 by 10:04 a.m. in New York. In Prague trading, Kit slumped 24 percent to 119.9 koruna, the biggest drop and the lowest price since the company cross-listed its shares on the Czech stock exchange in January 2010.

To contact the reporter on this story: Krystof Chamonikolas in Prague at kchamonikola@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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