The law firm is probing potential securities fraud claims after Bloomberg reported a Gemini 3.5 Pro delay and Alphabet later expanded 2026 capital spending guidance to $195 billion-$205 billion.
Pomerantz LLP said it is investigating potential claims on behalf of Alphabet Inc. investors over whether the company and certain officers or directors engaged in securities fraud or other unlawful business practices. The inquiry follows two July 2026 developments that coincided with sharp declines in Alphabet shares. Bloomberg reported on July 16 that Google was months behind schedule in delivering Gemini 3.5 Pro, described as its most powerful flagship AI model, after an update to the training data late the prior month produced disappointing results. Alphabet shares fell $16.40, or 4.4%, to close at $353.81 that day. Alphabet then reported second-quarter 2026 results on July 22, including a significant increase in expected full-year 2026 capital expenditures to $195 billion to $205 billion, negative free cash flow of $5.9 billion for the quarter, and plans to rely more on third-party capacity in Q3 as a bridging strategy in a supply-constrained environment, which it said would create modest near-term margin pressure. The stock fell another $23.57, or 6.89%, to $318.34 on July 23.