Alphabet faces securities fraud class action over Gemini 3.5 Pro delay
Alphabet faces a class action lawsuit concerning whether the company and certain officers or directors engaged in securities fraud or other unlawful business practices. The case focuses on statements about Google’s planned launch of Gemini 3.5 Pro and a subsequent report that the model was behind schedule.
- Pomerantz says a class action has been filed against Alphabet.
- The case concerns statements about Gemini 3.5 Pro’s planned June 2026 launch.
- Bloomberg reported on July 16 that the model was months behind schedule.
- Alphabet Class A and Class C shares each fell 4.4% that day.
- Investors have until December 1, 2026, to seek lead plaintiff status.
Investors have until December 1 to seek lead plaintiff role
Pomerantz LLP said in a PR Newswire announcement that the lawsuit has been filed against Alphabet Inc., whose Class A and Class C shares trade under the ticker GOOG on Nasdaq. Investors who purchased or otherwise acquired Alphabet securities during the class period have until December 1, 2026, to ask the court to appoint them as lead plaintiff for the class.
Investors can contact Danielle Peyton at [email protected] or 646-581-9980. Pomerantz also lists 888.4-POMLAW, toll-free, extension 7980. The firm asks people who inquire by email to include their mailing address, telephone number and the number of shares purchased. A copy of the complaint is available through Pomerantz’s website, according to the announcement.
Complaint centers on Gemini 3.5 Pro launch claims
According to Pomerantz, Alphabet hosted its annual Google I/O developer conference on May 19, 2026. During the event, Alphabet Chief Executive Officer Sundar Pichai announced that Google’s anticipated artificial intelligence offering, Gemini 3.5 Pro, would launch in June 2026.
The announcement says Bloomberg reported on July 16 that Google was “months behind schedule on delivering Gemini 3.5 Pro, its most powerful flagship AI model” because of ongoing coding efforts. The report also said Google had updated the data used to train Gemini late the previous month in an attempt to improve its skills, but that the results were disappointing.
The lawsuit concerns whether Alphabet and certain officers or directors made misleading statements or otherwise violated securities laws. The allegations described in the announcement have not been established in court.
Alphabet shares fell after the report
Pomerantz said Alphabet’s Class A common stock price fell $16.46 per share, or 4.4%, on July 16, 2026, closing at $354.46 per share. Alphabet’s Class C common stock price fell $16.39 per share, also 4.4%, to close at $353.58 per share.
The reported share-price movement is central to the investor case because the complaint links the market reaction to news about the timing and development of Gemini 3.5 Pro. The case gives investors who believe they were affected by the alleged conduct a deadline to seek a formal role in the litigation.
