Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Alphabet Inc. (GOOG; GOOGL)

NEW YORK, Oct. 05, 2026 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of all persons or entities who purchased or otherwise acquired Alphabet Inc. (“Alphabet” or the “Company”) (NASDAQ: GOOG; GOOGL) securities between May 19, 2026 and July 16, 2026, inclusive (the “Class Period”).

The Complaint alleges that Defendants failed to disclose to investors that: (1) the Gemini 3.5 Pro was delivering disappointing training results; (2) as a result, the launch of Gemini 3.5 Pro would be significantly delayed; and (3) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

The Complaint alleges that on May 19, 2026, Alphabet hosted its annual Google I/O developer conference. The Complaint alleges that during the conference, the Company’s Chief Executive Officer, Sundar Pichai announced its much anticipated latest artificial intelligence offering Gemini 3.5 Pro would launch in June 2026.

On July 16, 2026, at approximately 2:00 PM EST, Bloomberg reported that Google is “months behind schedule on delivering Gemini 3.5 Pro, its most powerful flagship AI model” due to the Company’s ongoing coding efforts. The Complaint alleges specifically, “[l]ate last month, Google updated the data being used to train Gemini in an attempt to improve [its] skills, but the results were disappointing.”

On this news, Alphabet’s Class A common stock price fell $16.46, or 4.4%, to close at $354.46 per share on July 16, 2026, on unusually heavy trading volume. Alphabet’s Class C common stock price fell $16.39, or 4.4%, to close at $353.58 per share on July 16, 2026.

Investors who purchased or otherwise acquired shares of Alphabet should contact the Firm prior to the December 1, 2026 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.