Apple(US:AAPL) GlobeNewswire News Roomยท2025-07-20 11:19Core Viewpoint - A lawsuit has been filed against Apple Inc. and certain senior executives for potential violations of federal securities laws related to misrepresentation of Siri's AI capabilities and product timelines [1][2][3][4]. Group 1: Lawsuit Details - The lawsuit is pending in the U.S. District Court for the Northern District of California, titled Tucker v. Apple Inc., et al., No. 5:25-cv-05197 [2]. - Investors have until August 19, 2025, to request to lead the case [2]. Group 2: Allegations Against Apple - The complaint alleges that Apple misrepresented the advanced AI features of Siri and the timeline for their integration into the iPhone 16 product cycle [3][4]. - It is claimed that Apple did not have a functional prototype of the advanced AI features it promoted [4]. Group 3: Stock Performance Impact - Following the announcement on March 7, 2025, that Apple would indefinitely delay several AI-based Siri features, the stock price fell by $11.59, or nearly 5%, from $239.07 to $227.48 per share [5]. - On June 9, 2025, after the Worldwide Developer Conference where no new updates on Siri features were announced, the stock price declined by $2.47, or over 1%, from $203.92 to $201.45 per share [6].