{"id":156,"date":"2025-06-24T11:48:12","date_gmt":"2025-06-24T11:48:12","guid":{"rendered":"https:\/\/newhorizonshub.com\/?p=156"},"modified":"2025-06-24T11:48:13","modified_gmt":"2025-06-24T11:48:13","slug":"did-apple-lie-about-siri-ai-in-2024-investors-now-suing","status":"publish","type":"post","link":"https:\/\/newhorizonshub.com\/index.php\/2025\/06\/24\/did-apple-lie-about-siri-ai-in-2024-investors-now-suing\/","title":{"rendered":"Did Apple Lie About Siri AI in 2024? Investors Now Suing"},"content":{"rendered":"\n
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A major securities class-action lawsuit has been filed against Apple Inc.<\/strong> by shareholder Eric Tucker<\/strong>, alleging the company misled investors about the readiness of its advanced Siri AI<\/strong> features announced at WWDC 2024<\/strong>. The case, dubbed Tucker v. Apple Inc.<\/em>, names CEO Tim Cook<\/strong>, CFO Kevan Parekh<\/strong>, and former CFO Luca Maestri<\/strong> as defendants  .<\/p>\n\n\n\n

What Happened?<\/strong><\/h3>\n\n\n\n

In June 2024, Apple unveiled Apple Intelligence<\/strong>, including next-generation Siri capabilities, implying these features would arrive with the iPhone\u202f16<\/strong>. However, the lawsuit claims Apple did not have a working prototype at that time\u2014and could not reasonably believe the features would be ready<\/strong>  .<\/p>\n\n\n\n

By March 2025<\/strong>, Apple officially announced a delay of the advanced Siri upgrade to 2026<\/strong>, and at WWDC 2025<\/strong> it offered little new information on Siri\u2019s progress  .<\/p>\n\n\n\n

Market Fallout<\/strong><\/h3>\n\n\n\n

The announcement triggered a sharp 13% drop in Apple\u2019s stock value in the following week, and shares have declined overall since late 2024\u2014shaving off close to $900 billion<\/strong> in market capitalization  .<\/p>\n\n\n\n

Shareholders claim they lost hundreds of billions of dollars<\/strong> due to Apple\u2019s alleged misrepresentations  .<\/p>\n\n\n\n

Legal Claims<\/strong><\/h3>\n\n\n\n
    \n
  • Securities fraud<\/strong>: Misleading investors about the development and launch timeline of Siri\u2019s AI capabilities\u00a0\u00a0.<\/li>\n\n\n\n
  • False statements<\/strong>: The original pitch at WWDC 2024 created biased investor expectations that were never met .<\/li>\n<\/ul>\n\n\n\n

    What\u2019s Next?<\/strong><\/h3>\n\n\n\n

    The lawsuit is currently pending in the Northern District of California<\/strong> federal court. It remains to be seen whether Apple will settle or whether the court will certify it as a full class action. Apple has not yet issued a public statement in response .<\/p>\n","protected":false},"excerpt":{"rendered":"

    A major securities class-action lawsuit has been filed against Apple Inc. by shareholder Eric Tucker, alleging the company misled investors about the readiness of its advanced Siri AI features announced at WWDC 2024. The case, dubbed Tucker v. Apple Inc., names CEO Tim Cook, CFO Kevan Parekh, and former CFO Luca Maestri as defendants  . What Happened? In June 2024, Apple unveiled Apple Intelligence, including next-generation Siri capabilities, […]<\/p>\n","protected":false},"author":5,"featured_media":157,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[10,11],"tags":[],"class_list":["post-156","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money-finance","category-tech-gadgets"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t