Apple(US:AAPL) Prnewswire·2025-06-21 00:33Core Viewpoint - A class action lawsuit has been filed against Apple Inc. and certain executives for alleged violations of the Securities Exchange Act of 1934, with claims centered around misleading statements regarding the integration of advanced AI features into Apple products, particularly the iPhone 16 [1][2]. Allegations and Impact - The lawsuit alleges that Apple misrepresented the timeline for integrating advanced AI-based Siri features, leading to doubts about their availability for the iPhone 16, which could negatively impact sales [2]. - Following the announcement of an indefinite delay for Siri updates on March 7, 2025, Apple's stock price experienced a decline [3]. - A report from Morgan Stanley on March 12, 2025, lowered Apple's price target from $275 to $252, citing the delay in Siri features as a factor affecting iPhone upgrade cycles, which further contributed to a drop in stock price [4]. - An article published by the Wall Street Journal on April 3, 2025, criticized Apple for failing to deliver promised AI features, resulting in a more than 7% decline in stock price [5]. - During the Worldwide Developer Conference on June 9, 2025, Apple did not announce any updates regarding advanced Siri features, leading to another decline in stock price [6]. Legal Process and Firm Background - Investors who purchased Apple securities during the class period can seek appointment as lead plaintiff in the lawsuit, which allows them to represent the interests of the class [8]. - Robbins Geller Rudman & Dowd LLP, the law firm handling the case, has a strong track record in securities fraud litigation, having secured over $2.5 billion for investors in 2024 alone [10].