Apple, once the leader in cutting-edge smartphone technology, is now facing a major lawsuit filed by one of its own shareholders over the delay of its Personalized Siri AI feature. The lawsuit, filed in a California court, claims that Apple misled investors with a fake demo during the 2024 WWDC and that the delay in the feature’s rollout caused Apple’s stock price to plummet by nearly 13%.
The feature, which was meant to be a key part of iOS 18, has faced multiple setbacks, ultimately being pushed back to next year.
Initially, the feature was announced as a breakthrough in artificial intelligence, aiming to create a more personalized and intelligent version of Siri. Apple was hopeful it would be ready for release alongside iOS 18. However, due to ongoing quality and reliability issues, the feature was delayed, frustrating many within the industry. The lawsuit, filed by shareholder Eric Tucker, claims that Apple made false statements about the feature’s availability, leading to significant financial loss for investors.
At the heart of the issue is a demo that was shown at WWDC. Apple executives had previously insisted that the demo was genuine, showcasing a fully functional version of the Personalized Siri. However, reports later revealed that the demo was actually a concept video, and there were no working prototypes of the feature available at the time. The delay in the feature’s release has led to speculation that Apple may be struggling to keep pace with competitors like OpenAI and Google, both of which are making rapid strides in the AI space.
The lawsuit further alleges that Apple’s failure to release the feature as promised directly caused the company’s stock to drop by 13%, a significant loss for its shareholders. This class action lawsuit, brought by an Apple investor, highlights the company’s legal troubles and the growing concerns over its AI capabilities.
In the midst of all this, Apple continues to promise that the Personalized Siri feature will be released in the future, though the exact timeline remains unclear. For now, it’s clear that Apple’s struggles with AI and its ability to meet expectations are having serious financial repercussions.