Apple sued by shareholder over Siri delay
Yeah, that’s the headline buzzing all over tech circles this weekend. Shareholder Eric Tucker has filed a proposed class-action in San Francisco, claiming Apple pulled a fast one by hyping up its AI‑powered Siri at WWDC 2024, even though there wasn’t a real prototype under the hood.
They’re saying Apple led investors to expect a Siri makeover with iPhone 16—something “personalized” and smart—while in reality, those shiny AI features got pushed all the way to 2026 macrumors.com. When the delay came out in March, followed by a mostly AI‑light WWDC 2025, the stock plunged—27%, wiping off nearly $900 billion in value.
But wait—what's the real gripe here?
At WWDC 2024, Apple rolled out “Apple Intelligence” and hyped Siri as being super smart, context-aware, and ready for real life. Investors took that as gospel. But the lawsuit claims Apple never had a working demo—just a polished concept video. No usable product, no demo-ready software. Just clever speech without actual substance.
When Apple admitted in March that Siri would be lagging way past iPhone 16, pushing it into 2026, it shocked the market. Most folks kinda expected it to drop later in 2025, not nearly a full year later .
Who’s getting named?
This isn’t just “Apple, Inc.”—the lawsuit lists big names:
Tim Cook (CEO)
Kevan Parekh (current CFO)
Luca Maestri (former CFO)
Filed as Tucker v. Apple Inc. et al, the case alleges securities fraud from misleading statements that tanked the stock.
How’s the web reacting?
On Reddit, people are mixing popcorn emojis with criticism. One user quipped:
“Yes, we lied to the people who bought our phones, but … we also lied to the people who bought our stock.”
Others say it might be a wake‑up call: “Apple’s easy defence: the stock price history…” appleinsider.com. Opinions are flying—some feel this should light a fire under Apple, others think it’s just part of the stock‑holder game.
So what now?
The case will need to be certified as a class action. Apple hasn’t officially responded yet—but given this involves senior execs, expect a robust defense, maybe even filings to dismiss the claims early.
If it moves forward, possible outcomes include settlements or internal changes—maybe more cautious forward‑looking statements next WWDC.
TL;DR
What happened: Shareholder sues, calling out Apple for promising advanced Siri AI chat at WWDC ‘24.
Why it matters: Those features were delayed to 2026—sending shares tumbling and erasing ~$900B in market cap.
What’s next: Lawsuit enters the gauntlet. Apple’s execs are named; defense strategy TBD.
Why you should care: It’s not just flashy features—it’s about transparency, trust, and what happens when big companies overpromise.
Also read :Apple Is Now Using AI to Design Chips — And That’s a Big Deal
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