Apple sued by shareholders for allegedly overstating AI progress Apple was sued on Friday by shareholders in a proposed securities fraud class action that accused it of downplaying how long it needed to integrate advanced artificial intelligence into its Siri
Apple sued by shareholders for allegedly overstating AI progress Apple sued by shareholders for allegedly overstating AI progress The complaint covers shareholders who suffered potentially hundreds of billions of dollars of losses in the year ending June 9
Apple faces lawsuit over alleged misrepresentation of AI . . . Apple faces a class action lawsuit from shareholders alleging the company overstated its AI progress, particularly with Siri The lawsuit claims Apple misled investors about the readiness of advanced Siri features, impacting iPhone sales and stock value This led to significant financial losses for shareholders, with Apple's market value dropping substantially
Apple sued by shareholders for allegedly misleading on AI plans Apple investors sued the company for allegedly misleading them about its AI and Siri development plans They claim the delays hurt iPhone sales and caused the tech firm’s stock to drop nearly 25% The lawsuit says shareholders lost about $900 billion after AI updates were postponed to 2026
Apple Sued Over Alleged AI Delay: Shareholders Claim Fraud . . . By allegedly overstating the progress of its AI technology, Apple is said to have influenced investor expectations in a misleading way The warning signs reportedly emerged in March 2025, when Apple quietly postponed some key Siri upgrades to 2026
Apple sued by shareholders for allegedly overstating AI . . . [NEW YORK] Apple was sued on Friday (Jun 20) by shareholders in a proposed securities fraud class action that accused it of downplaying how long it needed to integrate advanced artificial intelligence (AI) into its Siri voice assistant, hurting iPhone sales and its stock price Read more at The Business Times