Apple Settles Shareholder Lawsuit for $250 Million Over Siri AI Feature Delays

Deep News05:52

Apple has reached a $250 million settlement agreement in a shareholder lawsuit filed over delays to artificial intelligence upgrades for its Siri voice assistant. The lawsuit was initiated in 2024 by Peter Landsheft in a California federal court. It stemmed from the iPhone manufacturer announcing a series of AI enhancements at its annual software developer conference in 2024 and subsequently advertising that these features would launch in the fall of that year alongside new iPhone models.

However, the iPhones ultimately released did not include the promised AI capabilities. The plaintiffs argued that this omission harmed shareholder interests. In 2025, Apple indicated that a comprehensive AI upgrade for Siri would be delayed until the current year. Company executives have now confirmed that the new Siri features are scheduled to debut next month at Apple's annual developer conference.

Apple did not admit to any wrongdoing as part of the settlement, which still requires judicial approval. In a statement, Apple noted that it has released numerous other AI features since introducing its "Apple Intelligence" initiative in 2024.

The company stated, "Apple has agreed to a settlement to resolve claims related to the availability timeline of two specific new features. We are resolving this matter to remain focused on what we do best: delivering the most innovative products and services to our users."

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment