The shareholders accuse the Apple company of misleading and demanding huge losses after massive decreases in actions.
Apple’s company, sued because it would have exaggerated progress in AI photo: X
Apple is facing a process filed by a group of shareholders who claim that the technological giant would have made misleading statements about its progress in the field of artificial intelligence. According to Reuters, the complaint was filed with a federal court in San Francisco and concerns the losses suffered by shareholders in a period of one year, concluded on June 9, 2025.
Serious charges: promises without coverage
The applicants, led by the investor Eric Tucker, accuses Apple of exaggerated the capabilities of the new functions presented in June 2024, at the WWDC conference, under the “Apple Intelligence” brand. They claim that these functions, promoted as essential for the future iPhone 16, were not actually developed.
“Apple has created the impression that it has a functional prototype for the new Siri functionalities based on AI and that their launch is imminent, although in reality the company could not guarantee this ”is shown in the complaint.
Moreover, according to the documents submitted, the company would have postponed on March 7, 2025 a series of updates for Siri, the new assistant based on artificial intelligence, until 2026. This detail would have left investors completely unprepared for what was coming.
Apple actions, in free fall
After presentation from WWDC 2025, analysts considered that Apple’s improvements are largely “beauty“And does not reflect a substantial progress in the AI field. This negative perception has had a direct impact on the market.
From the historical maximum registered on December 26, 2024, Apple shares decreased by almost 25%, which meant a loss of about $ 900 billion from the company’s stock market capitalization.
Who are the defendants
Among those mentioned in the complaint are the Apple CEO, Tim Cook, financial director Kevan Parekh and former CFO Luca Maestri. They are accused of contributing to the misleading investors through public statements that did not reflect the internal reality of the company.
So far, Apple has not issued an official comment on charges. The trial is registered with the Northern California District Court and could have serious implications for the credibility of the Silicon Valley giant.
