Saturday, 21 June, 2025
Shareholders Sue Apple Over Overstated AI Progress and Siri Delays
A proposed class-action suit filed in the U.S. District Court in San Francisco accuses Apple and executives—including Tim Cook, Kevan Parekh, and Luca Maestri—of misleading investors about Apple Intelligence’s timeline, particularly Siri integration promised at WWDC 2024. The complaint highlights that no functional prototype existed and major delays were announced March 2025. Apple’s stock has fallen ~25%, wiping out ~$900 billion in market cap.
Read full story at Economic Times