A feature powered by Apple`s artificial intelligence (AI) technology may have caused financial damage to the company and its shareholders, according to a report from MacRumors.
In late June, a significant Apple shareholder named Eric Tucker filed a lawsuit against the corporation in California, alleging the tech giant breached US federal securities laws. Tucker claims Apple had announced a more intelligent, AI-powered version of its Siri assistant for release in 2024, but this update never materialized.
Tucker and other shareholders argue that this failure by Apple negatively impacted the company`s stock value and harmed its investors. Following the news of the delay in launching the new AI-driven Siri features, the company`s stock price reportedly dropped by 13 percent within a week.
According to Eric Tucker`s legal representatives, “Investors were unaware that Apple lacked a functional prototype for these advanced AI-driven Siri features.” They also did not anticipate that the launch of the iPhone 16 in the fall of 2024 would proceed without the simultaneous release of the Apple Intelligence neural network.
MacRumors journalists indicate that Tucker`s lawsuit is reportedly not the first claim of its kind. Apple has not yet provided a comment on the situation.
Separately, the Tagansky Court in Moscow previously ordered Apple corporation to pay a fine of six million rubles. The court sessions leading to this decision were reportedly held in private.
Rupert Blackwood 
Barnaby Whitfield