Apple seeks dismissal of fraud lawsuit over Siri AI, Epic injunction

Core Viewpoint - Apple is seeking to dismiss a class action lawsuit alleging it defrauded shareholders by overstating the capabilities of its Siri AI and misrepresenting compliance with an injunction related to app sales commissions [1]. Group 1: Lawsuit Details - The lawsuit claims that Apple shareholders could face losses amounting to hundreds of billions of dollars due to alleged securities fraud between May 3, 2024, and May 1, 2025 [1]. - Apple argues that there is no evidence it knowingly misrepresented the timeline for incorporating advanced AI features into Siri, which may have impacted iPhone 16 sales [1]. - The company also stated that it did not guarantee the effectiveness of its compliance procedures regarding the 2021 injunction from Epic Games, which required changes to app payment systems [1]. Group 2: Company Response - Apple emphasized that it faced stock price fluctuations in 2025, similar to other major companies, and contended that the plaintiffs' claims of securities fraud causing price drops are unfounded [1]. - The company highlighted that it delayed some Siri upgrades and acknowledged that developing a "more personal" Siri was taking longer than anticipated [1]. - Apple faced criticism for implementing a new system that charged a 27% commission on some external sales, despite the injunction requiring a different approach [1].