Apple's delayed Siri update spawns another securities lawsuit

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AppleInsiderAppleInsider
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in AAPL Investors edited July 29

A second law firm is seeking Apple investors to lead an attempted class action lawsuit over allegations of securities fraud linked to the delayed Siri upgrade.

Smartphone screen displaying a reminder about meeting Zac Wingate at Cafe Grenel, with details about a production catch-up event scheduled for July 3.
The type of question Apple promises Siri will be able to answer with Apple Intelligence. Image source: Apple



The rollout of Apple Intelligence has been problematic in many ways, but the worst problem has been Siri. After being promised a more personalized version of the digital assistant, Apple has admitted that the new version has been significantly delayed.

With the Siri upgrade now happening beyond iOS 18, lawyers are trying to capitalize on this broken marketing promise.

The Rosen Law Firm has put a call out to buyers of Apple securities who may have bought the company's shares on the strength of the Apple Intelligence launch.

A press release picked up by Morning Star seeks out investors who bought Apple shares between June 10, 2024 and June 9, 2025. It explains there is a "lead plaintiff deadline" of August 19, 2025.

While there is a deadline connected to the suit, Rosen Law admits that it is trying to make it a certified class action lawsuit, but it isn't at the time of publication.

The lawsuit asserts that Apple had made "false and misleading statements" or failed to disclose that it had underestimated how long it would take for the AI-based Siri to go live. Apple also apparently wronged investors because the new Siri was unlikely to be available in time to be used on the iPhone 16.

In doing so, sales of the iPhone 16 were allegedly harmed, therefore Apple overstated its financial prospects. The suit adds that the public statements from Apple about the all-new Siri were "materially false and misleading," which meant that investors suffered damages.

Class-action pile-on



A perceived marketing mistake affecting shareholders is certainly something that can attract lawsuits, especially at Apple's size. Rosen is not the only law firm to smell blood in the water.

In May, lawyers from Bronstein, Gewirtz, & Grossman LLC announced it was investigating whether to try its own class-action suit filing over the Siri fiasco. For its own announcement, the law firm also insisted that the Apple stock price fell after Apple confirmed the Siri changes were delayed.

Another lawsuit filed in March went after Apple over its advertising. Specifically how Apple Intelligence was included in adverts demonstrating delayed features.



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Comments

  • Reply 1 of 7
    iOS_Guy80ios_guy80 Posts: 971member
    Ridiculous.
    BlackwhitepandawilliamlondonJavert24601
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  • Reply 2 of 7
    ApplePoorapplepoor Posts: 396member
    One can not ignore the announcement video for iPhones 16 series with the reality that much of the new features were actually vaporware and almost a year later are still not operational. We (my wife and I) could have waited another iPhone model year rather than getting two iPhone 16 Pro Max 2TB  models at close to $2,000 each with sales tax and Apple care.

    The 17 series are rumored to have 50% more memory to 12GB but all the Macs have to have 16GB to run Apple AI so will this too will be a scam (?) because we will find that the 18 series with 16GB will actually run AI properly???

    At Apple's purchase volumes, the memory could have been 16GB for the 16 series iPhones but corporate greed influenced (?) the decision to string along two more years of iPhones with inadequate memory for their big deal AI plans.  

    Apple revealed by their moving all Macs to 16GB of memory that is the minimum necessary (at this time) for Apple AI. We always have installed maximum memory now that it is soldered in place....
    williamlondonmuthuk_vanalingamJavert24601
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  • Reply 3 of 7
    Blackwhitepandablackwhitepanda Posts: 21member
    It still baffles me why Apple showed Siri at WWDC 2024?! 

    Because Apple felt under pressure to kiss investor's fat ass? 
    williamlondonJavert24601
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  • Reply 4 of 7
    cambercamber Posts: 32member
    Ah yes, enter the world of US lawyers where anyone can sue anyone else without so much as that little thing called evidence. With Moree lawyers per capita than any other country in the world it is little wonder that such law suits continue to plague the industry and thee courts.
    BlackwhitepandawilliamlondonJavert24601
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  • Reply 5 of 7
    Javert24601javert24601 Posts: 28member
    "perceived marketing mistake"? Seriously? Apple plain and simple lied to its customers. If the Board won't hold the officers (ie Tim Crook) responsible, then let the lawyers rip billions of dollars from Apple's hands. There needs to be some accountability, and I am sick and tired of there being no accountability at Apple because of the weak leadership of Tim Crook. And, I'm saying this as a shareholder.
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  • Reply 6 of 7
    Javert24601javert24601 Posts: 28member
    camber said:
    Ah yes, enter the world of US lawyers where anyone can sue anyone else without so much as that little thing called evidence. With Moree lawyers per capita than any other country in the world it is little wonder that such law suits continue to plague the industry and thee courts.
    I'm not a fan of lawyers, but they do serve a legitimate function in holding companies accountable.  The evidence is Apple's announcement at WWDC 2024 with upgraded Siiri "coming later in the year".  So, unless Apple delivers it before 09/16/25, then Apple lied to its customers and shareholders.  Everyone was led to believe that Apple was just putting the final touches on upgraded Siri, which is why they were pre-announcing it.  Instead, upgraded Siri didn't work or, more realistically, never existed.  Shame on Apple!  They were desperate to have something new for 2024, and they knew they were behind on AI, so they tried to pull this bait and switch.  Just like there is nothing major for 2025, so they are trying to rush out this GUI change.  The company is broken, and the responsibility lies at the top with Tim Crook.  He had the opportunity to hold Giannandrea accountable, but instead, he just changed job roles.  Have you noticed that Tim hasn't fired anyone at Apple?  How can the leader of a company not fire anyone during his tenure?  Weak leadership.  A true leader rewards people who excel but also holds people accountable for their massive fails.  And, Giannandrea did massively fail with Siri, which Apple has neglected for 15 years.  Furthermore, Apple's Board is refusing to hold Tim Crook responsible and is even considering giving him the title of Chairman.  <rolling eyes>  So, how else are shareholders and customer supposed to hold Apple accountable for lying about upgraded Siri.  Well, here comes the lawyers, and I am cheering for them.
    muthuk_vanalingam
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  • Reply 7 of 7
    ApplePoorapplepoor Posts: 396member
    The less than subtle way to hold Apple accountable is to NOT buy any new Apple equipment this year and maybe next year. A different color paint is NOT an all new device. The customer holds the keys  to behavior modification at Apple, keep the jingle in their pocket.

    The Trump tariffs will help as Tim tries to pass all the cost to consumer. My loaded iPhone 16 Pro Max 2TB cost close to $2,000 last year.  Tarriffs could make the same iPhone model series 17 price close to $2,500 this year. No phone is worth that much for the average consumer.

    The Golden Goose is going to be on life support soon. At least poor Tim has a few hundred million to scrape by on.  :)
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