Class action alleges Apple misled investors about Siri’s AI capabilities

Apple securities class action lawsuit overview:

• Who: Plaintiff Eric Tucker filed a class action lawsuit against Apple Inc. and three of its top executives.
• Why: Tucker claims Apple misled investors about its ability to deliver advanced artificial intelligence (AI)-based Siri features.
• Where: The Apple class action lawsuit was filed in California federal court.

A new class action lawsuit alleges Apple falsely advertised that it had the ability to deliver advanced AI-based Siri features in 2024 and 2025.

Plaintiff Eric Tucker filed the class action complaint against Apple, CEO Tim Cook, CFO Luca Maestri and CFO Kevan Parekh on June 20 in California federal court, alleging violations of federal securities laws.

According to the lawsuit, Apple made false and misleading statements about its ability to deliver advanced AI-based Siri features.

The company announced these features at its 2024 Worldwide Developer Conference (WWDC), claiming they would be available on the iPhone 16. However, Apple allegedly lacked a functional prototype of these features at the time and had no reasonable basis to believe it could deliver them within the iPhone 16 product cycle, if ever.

Apple falsely advertised AI capabilities, class action says

Tucker claims Apple’s false statements led to an inflated stock price, which subsequently dropped when the company announced delays in delivering the promised Siri features. Investors who purchased Apple securities during the class period, from June 10, 2024, to June 9, 2025, suffered significant losses, the Apple class action alleges.

The lawsuit claims Apple’s executives, including Cook and Maestri, knew about the company’s inability to deliver the advanced Siri features but continued to make false statements to investors.

The executives allegedly enriched themselves by selling Apple shares while the stock price was artificially inflated, the Apple class action states.

As a result of its alleged actions, Apple is facing claims for violations of the Securities Exchange Act. Tucker demands a jury trial and requests damages for himself and all class members.

Earlier, three separate class action lawsuits accused Apple of misleading marketing by promoting the AI capabilities of its iPhone 16 as fully integrated at launch despite failing to deliver on those promises and not adequately disclosing delays in feature availability.

Apple also recently agreed to a $95 million settlement to resolve class action claims that Siri unintentionally recorded private conversations and shared them with third parties.

What do you think of the allegations in this Apple class action lawsuit? Let us know in the comments.

Tucker is represented by Jennifer Pafiti, Jeremy A. Lieberman and J. Alexander Hood II of Pomerantz LLP.

The Apple securities class action lawsuit is Tucker v. Apple Inc., et al., Case No. 3:25-cv-05197, in the U.S. District Court for the Northern District of California.

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