Apple has requested a federal judge dismiss a class action lawsuit accusing the company of defrauding shareholders by exaggerating the artificial intelligence capabilities of its Siri voice assistant and misrepresenting its compliance with an injunction related to app commission rules from the Epic Games case. The lawsuit contends that Apple overstated the readiness and timeline for integrating advanced AI features into Siri during a June 2024 event, which allegedly misled investors and contributed to significant stock losses between May 2024 and May 2025. The suit also claims Apple falsely assured investors about its adherence to a 2021 injunction mandating changes to the App Store’s commission practices, which the company was found to have violated.
In its defense, Apple argued there is no evidence showing it knowingly misled investors about the development timeline for these AI features, nor that it guaranteed flawless compliance with the injunction. The company maintained that its stock price fluctuations in 2025 were typical market challenges and do not amount to securities fraud. This case highlights the scrutiny tech companies face regarding how they communicate AI progress and regulatory compliance to investors, especially amid growing expectations about AI-driven product enhancements and fair digital marketplace practices. Apple’s move to dismiss the claims could influence future shareholder litigation linked to the performance and marketing of AI technologies and adherence to regulatory rulings.
Frequently asked questions
What is the lawsuit against Apple about?
The lawsuit accuses Apple of defrauding shareholders by exaggerating the artificial intelligence capabilities of Siri and misrepresenting compliance with an Epic Games injunction.
What was Apple's defense in the lawsuit?
Apple argued that there is no evidence showing it knowingly misled investors about the development timeline for AI features or guaranteed compliance with the injunction.
