Alphabet faces securities class action over alleged Gemini 3.5 Pro AI delays

Law firms are notifying Alphabet Inc. investors of a pending federal securities fraud class action in the U.S. District Court for the Northern District of California, with a lead plaintiff deadline set for December 1, 2026. The lawsuit covers investors who bought shares between May 19, 2026, and July 16, 2026. Plaintiffs allege Alphabet misrepresented the progress of its Gemini 3.5 Pro model while concealing disappointing training results. On July 16, 2026, media reports revealed months of delays, causing Class A shares to drop 4.4% from $370.92 to $354.46.