NEW YORK CITY, NY / ACCESS Newswire / October 16, 2026 / Levi & Korsinsky, LLP alerts investors in Alphabet Inc. (NASDAQ: GOOGL, GOOG) that Chief Executive Officer Sundar Pichai and Chief Financial Officer Anat Ashkenazi are named as individual defendants in a pending securities class action covering purchases between May 19, 2026 and July 16, 2026. Find out if you may be eligible to recover losses or contact Joseph E. Levi, Esq. at jlevi@levikorsinsky.com or (212) 363-7500.

On July 16, 2026, Alphabet Class A shares fell $16.46, or 4.4%, to close at $354.46 on unusually heavy volume, and Class C shares fell $16.39 to $353.58. To be considered for lead plaintiff, investors must file by December 1, 2026.

Section 20(a) Control Person Claims Against Alphabet's CEO and CFO

The complaint pleads a Section 10(b) and Rule 10b-5 claim against all defendants and a separate Section 20(a) claim directed solely at Pichai and Ashkenazi. The pleading asserts that their senior positions gave both executives power over Alphabet's decision-making, including the content of SEC reports, press releases, and presentations to analysts and institutional investors.

At issue are statements that Gemini 3.5 Pro, Alphabet's flagship AI model, would arrive in June 2026, made at the May 19 Google I/O conference and repeated on a June 3 Special Investor Call. As averred, defendants did not disclose that the model was delivering disappointing training results or that its launch would be significantly delayed.

Alleged Control Person Liability

• Pichai, CEO at all relevant times, allegedly delivered the challenged June launch statements at Google I/O and on the Special Investor Call.
• Ashkenazi, CFO at all relevant times, allegedly shared authority over the contents of Alphabet's SEC reports and investor presentations.
• Both executives allegedly received challenged reports and releases before or shortly after issuance and had the ability to prevent or correct them.
• The complaint charges that both were privy to internal budgets, plans, projections, and reports through their senior roles.
• Plaintiffs seek compensatory damages against all defendants, jointly and severally.

Why Personal Accountability Matters to Class Period Purchasers

On September 30, 2026, Reuters reported that Google no longer plans to release Gemini 3.5 Pro at all.

"Corporate officers have a duty to ensure their companies' public statements are accurate and complete. The complaint alleges that Alphabet's two most senior officers held authority over investor communications while a promised June launch for Gemini 3.5 Pro was allegedly slipping out of reach. Class Period purchasers may wish to understand how these individual liability claims could bear on any recovery." -- Joseph E. Levi, Esq.

Submit your information to learn more or call (212) 363-7500.

Levi & Korsinsky, LLP is a nationally recognized shareholder rights firm. Over the past 20 years, the firm has secured hundreds of millions of dollars for aggrieved shareholders. Ranked in ISS Top 50 for seven consecutive years.

Frequently Asked Questions About the Alphabet Lawsuit

Q: What is the Alphabet class action lawsuit about?
A: A securities class action has been filed against Alphabet Inc. (NASDAQ: GOOGL, GOOG) alleging materially false and misleading statements between May 19, 2026 and July 16, 2026. Shares fell approximately 4.4% after Bloomberg reported on July 16, 2026 that Google was months behind schedule on delivering Gemini 3.5 Pro and that results from recent training data updates were disappointing. Investors who purchased shares during the Class Period and suffered losses may be eligible to seek compensation.

Q: Who are the defendants named in the Alphabet lawsuit?
A: The complaint names Alphabet Inc. and individual defendants including senior executives Sundar Pichai and Anat Ashkenazi.

Q: What court was the Alphabet class action filed in?
A: The case was filed in the United States District Court for the Northern District of California, governed by the Private Securities Litigation Reform Act of 1995.

Q: What do Alphabet nvestors need to do right now?
A: Investors may gather brokerage records showing purchase dates, share quantities, and prices paid. Submit your information for a no-cost, no-obligation evaluation of your potential recovery. No immediate action is required to remain eligible as an absent class member.

Q: What happens after I contact Levi & Korsinsky?
A: An attorney will review your trading history at no cost and provide an initial assessment of your potential eligibility.

Q: What if I already sold my Alphabet shares -- can I still recover losses?
A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought during the Class Period and sold at a loss may still be eligible to participate.

Q: Do I need to go to court or give testimony?
A: No. The overwhelming majority of class members never appear in court or give depositions. If there is a settlement or recovery, eligible class members generally submit a claim form to seek their portion.

Q: What does it cost me to participate?
A: There is no upfront cost to submit your information and review whether you may be eligible to recover. Should you choose to participate in the securities class action, they are generally handled on a contingency basis, with any attorneys' fees and expenses subject to court approval.

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CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171

SOURCE: Levi & Korsinsky, LLP