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GRAIL, Inc. Faces Class Action Lawsuit Over Securities Fraud

On July 29, 2026, Hagens Berman Sobol Shapiro LLP announced that a class action lawsuit has been filed against GRAIL, Inc. (NASDAQ: GRAL) for alleged securities fraud. The firm is actively reaching out to investors who have incurred substantial losses to encourage them to take action before the lead plaintiff deadline of August 4, 2026.

Key Details of the Class Action Case

The class period for this securities fraud case spans from May 13, 2025, to February 19, 2026. During this time, the lawsuit claims that GRAIL and certain executives misrepresented critical details regarding the clinical trial for their NHS-Galleri cancer screening test. The firm's press release highlights that investors who bought shares during this specific timeframe have experienced significant losses and are encouraged to seek legal recourse.

Core Allegations

The allegations in the lawsuit center around misleading claims made by GRAIL regarding the efficacy and design of its pivotal NHS-Galleri trial. Specifically, the complaint asserts:

• - Misleading Communication: GRAIL allegedly misrepresented the clinical trial's structure and claimed it was optimally designed with a three-year follow-up period to demonstrate a significant reduction in late-stage cancer diagnoses (Stages III and IV).
• - Concealed Limitations: There are accusations that GRAIL selectively highlighted favorable preliminary results while withholding detailed data, suggesting a three-year timeframe might not be sufficient to meet the trial's primary endpoint.

Significant Market Reactions

The gravity of the situation was underscored on February 19, 2026, when GRAIL published results from its NHS-Galleri trial, revealing that it had failed to meet its critical endpoint. This shocking announcement triggered a catastrophic drop in the company's stock price, with shares plummeting 50.55% in one trading day—from a closing value of $101.53 to $50.21 on February 20, 2026. This swift decline resulted in a loss exceeding $2.2 billion in market capitalization, demonstrating the profound impact of the alleged misrepresentations.

Ongoing Investigation by Hagens Berman

In conjunction with the filing of the class-action lawsuit, Hagens Berman has launched a broader investigation into GRAIL's disclosures surrounding the clinical trial. The firm aims to uncover when GRAIL’s management became aware of discrepancies regarding the trial's follow-up requirements and their influence on the trial's public communication. Partner Reed Kathrein emphasized the focus on pinpointing when the company recognized the need for a longer follow-up period rather than the advertised three years.

What Affected Investors Can Do

Investors who have purchased GRAIL common stock between May 13, 2025, and February 19, 2026, and have experienced significant losses are urged to act by the upcoming deadline of August 4, 2026. They have the opportunity to seek appointment as the lead plaintiff in the class action by contacting Hagens Berman to discuss potential legal options.

For those with insider or non-public information about GRAIL that may assist in the ongoing investigation, Hagens Berman encourages whistleblowers to come forward. The SEC's Whistleblower program offers rewards that can amount to 30% of any recovery resulting from the information provided.

About Hagens Berman

Hagens Berman is a renowned plaintiffs' rights litigation firm, dedicated to corporate accountability. The firm represents a wide array of affected individuals, including investors, consumers, and whistleblowers, and has achieved significant results, recovering over $2.9 billion in various litigation cases.

The firm continues to closely monitor GRAIL and its communications to investors while awaiting the outcomes of the ongoing investigations and lawsuit developments.