Apple Inc. has asked a federal judge to dismiss a proposed class action lawsuit accusing the tech giant of misleading investors over its artificial intelligence strategy and its compliance with a court order tied to the Epic Games litigation. According to Reuters, "Apple urged a federal judge to dismiss a proposed class action claiming it defrauded shareholders twice, by overstating the artificial intelligence capabilities of its Siri voice assistant and falsely representing its compliance with an injunction governing commissions on app sales."
The lawsuit alleges that Apple misled investors about the timeline and readiness of its Apple Intelligence platform and planned upgrades to its Siri voice assistant, raising concerns about the potential impact of delays on the iPhone 16 series.
In its court filing, Apple reportedly argued that “there was no proof it knew when discussing AI at a June 2024 conference that it would take longer than expected to incorporate two advanced AI features into Siri, potentially hurting iPhone 16 sales.”
The second fraud claim relates to the long-running legal battle with Epic Games. Shareholders point to a stock decline that followed a ruling by U.S. District Judge Yvonne Gonzalez Rogers, who found that Apple had violated her earlier injunction requiring changes to the App Store’s commission policies.
Apple’s motion addresses that issue directly, with the report noting that the company’s defense states it “provided no assurance that its procedures designed to comply with [the] 2021 injunction […] would be foolproof.”
The plaintiffs are led by South Korea’s National Pension Service, identified by Reuters as the world’s third-largest pension fund, with nearly $1 trillion in assets under management.
As part of its defense, Apple’s legal team acknowledged that its stock “faced challenges and weathered ups and downs” in 2025, but argued that it would be a “massive and unsupported leap” to conclude that the company engaged in securities fraud.
The court has yet to rule on Apple’s motion to dismiss the case.
