Apple Sued by Shareholder Over Delayed Siri Features Allegedly Lowering Stock Price

Apple shareholder Eric Tucker today filed a proposed class action lawsuit against the company in a California court, over alleged violations of federal U.S. securities laws.

Apple’s CEO Tim Cook, former CFO Luca Maestri, and current CFO Kevan Parekh are also named as defendants in the case, which still needs to be certified by a judge.

The complaint alleges that Apple made false statements related to the more personalized version of Siri that it previewed during its WWDC 2024 keynote. The complaint alleges that these actions hurt the company’s stock price, and thereby harmed shareholders.

“Unbeknownst to investors, Apple lacked a functional prototype of these advanced AI-based Siri features at the time of the 2024 WWDC and had no…