Apple(US:AAPL) Prnewswire·2025-07-02 22:20Core 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 a focus on misleading statements regarding the integration of advanced AI features into Siri and its impact on iPhone sales [1][2]. Allegations - The lawsuit claims 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 affect sales [2]. - It is alleged that the announcement on March 7, 2025, regarding the indefinite delay of Siri updates caused a decline in Apple's stock price [3]. - Following this, a report from Morgan Stanley on March 12, 2025, lowered Apple's price target from $275 to $252, citing the delay's impact on 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 not delivering promised AI features, resulting in a more than 7% decline in stock price [5]. - On June 9, 2025, during the Worldwide Developer Conference, Apple failed to announce any updates regarding advanced Siri features, leading to another decline in stock price [6]. Legal Process - Investors who purchased Apple securities during the specified class period can seek appointment as lead plaintiff in the lawsuit, representing the interests of the class [8]. - The lead plaintiff has the authority to select a law firm for litigation, and participation as lead plaintiff is not a prerequisite for sharing in any potential recovery [9]. Firm Background - Robbins Geller Rudman & Dowd LLP is a prominent law firm specializing in securities fraud and shareholder litigation, having secured over $2.5 billion for investors in 2024 alone [10].