Multiple law firms have filed a class action lawsuit against Alphabet Inc. and its executives, alleging securities fraud. The lawsuit covers investors who purchased Alphabet shares between May 19 and July 16, 2026.
The suit alleges that Alphabet made false and misleading statements about the progress of its anticipated Gemini 3.5 Pro AI model. It claims the company failed to disclose disappointing training results and a significant launch delay.
The legal action followed a July 16 Bloomberg report detailing internal development issues. Alphabet’s stock fell approximately 4.4% on the day of the report.