US Edition
Apple Sued by Shareholders for Allegedly Overstating AI Progress
SAN FRANCISCO, NORTHERN DISTRICT OF CALIFORNIA, USA, JUN 20 – Shareholders accuse Apple of securities fraud for overstating AI readiness and delaying key Siri upgrades, contributing to a nearly 25% drop in stock value, wiping out $900 billion in market ca
- 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.
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Apple's news always alerts conflicting opinions between the various users, who are impressed and who are no longer impressed. Besides the critics, Apple is being processed by...
·Portugal
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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
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Total News Sources33
Leaning Left4Leaning Right3Center6Last UpdatedBias Distribution46% Center
Bias Distribution
- 46% of the sources are Center
46% Center
L 31%
C 46%
R 23%
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