Apple Sued by Shareholder Over Delayed Siri Features Allegedly Lowering Stock Price
Apple shareholder Eric Tucker today filed a proposed class action lawsuit against the company in a California court, over alleged violations of federal U.S. securities laws.
Apple's CEO Tim Cook, former CFO Luca Maestri, and current CFO Kevan Parekh are also named as defendants in the case, which still needs to be certified by a judge.
The complaint alleges that Apple made false statements related to the more personalized version of Siri that it previewed during its WWDC 2024 keynote. The complaint alleges that these actions hurt the company's stock price, and thereby harmed shareholders.
"Unbeknownst to investors, Apple lacked a functional prototype of these advanced AI-based Siri features at the time of the 2024 WWDC and had no reasonable basis to believe it could deliver the product it was advertising within the iPhone 16 product cycle, if ever," the lawsuit alleges. The complaint cites a Daring Fireball post by John Gruber that described the Siri features as being merely a "concept video" when they were first announced.
The complaint also mentions the personalized Siri ad starring actor Bella Ramsey that Apple pulled from YouTube, and recaps many other known facts about the delayed Siri features. The lawsuit is very similar to previous class action lawsuits filed against Apple over this situation, except this one is filed by a shareholder and is focused on securities laws.
In March, Apple said it anticipated rolling out the delayed Siri features "in the coming year" from that point. In a recent interview, Apple's marketing chief Greg Joswiak said that the "coming year" refers to 2026. iOS 26.4 is likely the current target for a rollout.
Apple's stock price dropped nearly 13% in the week after the company disclosed the delay.
Apple has yet to comment on the lawsuit.
Popular Stories
Apple is not expected to release a standard iPhone 18 model this year, according to a growing number of reports that suggest the company is planning a significant change to its long-standing annual iPhone launch cycle.
Despite the immense success of the iPhone 17 in 2025, the iPhone 18 is not expected to arrive until the spring of 2027, leaving the iPhone 17 in the lineup as the latest...
Apple's restrained artificial intelligence strategy may pay off in 2026 amid the arrival of a revamped Siri and concerns around the AI market "bubble" bursting, The Information argues.
The speculative report notes that Apple has taken a restrained approach with AI innovations compared with peers such as OpenAI, Google, and Meta, which are investing hundreds of billions of dollars in data...
The Apple Fitness+ Instagram account today teased that the service has "big plans" for 2026. In a video, several Apple Fitness+ trainers are shown holding up newspapers with headlines related to Apple Fitness+.
What's Apple Fitness+ Planning for the New Year?
Something Big is Coming to Apple Fitness+
The Countdown Begins. Apple Fitness+ 2026 is Almost Here
2026 Plans Still Under ...
The company behind the BlackBerry-like Clicks Keyboard accessory for the iPhone today unveiled a new Android 16 smartphone called the Clicks Communicator.
The purpose-built device is designed to be used as a second phone alongside your iPhone, with the intended focus being communication over content consumption. It runs a custom Android launcher that offers a curated selection of messaging...
Apple hasn't updated the Mac Pro since 2023, and according to recent rumors, there's no update coming in the near future. In fact, Apple might be finished with the Mac Pro.
Bloomberg recently said that the Mac Pro is "on the back burner" and has been "largely written off" by Apple. Apple apparently views the more compact Mac Studio as the ideal high-end pro-level desktop, and it has almost...
Apple today added the final 13-inch MacBook Air powered by Intel processors, the Apple Watch Series 5, and additional products to its vintage products list. The iPhone 11 Pro was also added to the list after the iPhone 11 Pro Max was added back in September.
The full list of products added to Apple's vintage and obsolete list today:
MacBook Air (Retina, 13-inch, 2020)
iPhone 8 Plus 128GB ...
Apple today announced a number of updates to Apple Fitness+ and activity with the Apple Watch.
The key announcements include:
New Year limited-edition award: Users can win the award by closing all three Activity Rings for seven days in a row in January.
"Quit Quitting" Strava challenge: Available in Strava throughout January, users who log 12 workouts anytime in the month will win an ...
iPhone 17 Pro and Pro Max owners are having trouble with the speakers of their devices, and have complained about a static or hissing noise that occurs when the iPhone is charging.
There are multiple discussions about the issue on Reddit, the MacRumors forums, and Apple's Support Community, where affected users say there is a noticeable static noise "like an old radio." Some people report...
