US EditionApple Sued by Shareholders for Allegedly Overstating AI Progress
- Apple was sued by shareholders on June 20, 2025, in San Francisco federal court for allegedly misleading investors about AI progress and Siri delays.
- The lawsuit alleges Apple executives overstated AI readiness between June 2023 and June 2024, despite delays announced on March 7, 2025, for Siri upgrades to 2026.
- Apple introduced the “Apple Intelligence” suite at the June 2024 Worldwide Developers Conference, promoting AI as key for iPhone 16, but kept AI changes modest and disappointed analysts.
- Apple’s shares peaked on December 26, 2024, then dropped nearly 25%, erasing approximately $900 billion in market value as investors reacted to delays and cautious AI progress.
- Apple is evaluating AI startup Perplexity to bolster generative AI amid risks to its Google search deal, while the lawsuit underscores growing scrutiny of tech companies’ AI claims.
Insights by Ground AI
Does this summary seem wrong?
23 Articles
23 Articles
All
Left
3
Center
6
Right
2
Apple Eyes Perplexity AI Acquisition While Facing Shareholder Lawsuit Over Exaggerated AI Progress: Report - Apple (NASDAQ:AAPL)
Apple is reportedly exploring an acquisition of Perplexity while facing a lawsuit accusing the company of overstating its AI progress.
·New York, United States
Read Full Article
Apple sued by shareholdrs, accues of lying about AI progress — causing iPhone sales, stock to slump
Apple was sued on Friday by shareholders in a proposed securities fraud class action that accused it of downplaying how long it needed to integrate advanced artificial intelligence into its Siri voice assistant, hurting iPhone sales and its stock price.
·New York, United States
Read Full ArticleCoverage Details
Total News Sources23
Leaning Left3Leaning Right2Center6Last UpdatedBias Distribution55% Center
Bias Distribution
- 55% of the sources are Center
55% Center
L 27%
C 55%
R 18%
Factuality
To view factuality data please Upgrade to Premium
