Apple has asked a federal court to dismiss a class action lawsuit that accuses the company of misleading shareholders over delayed artificial intelligence features and its handling of the Epic Games injunction. The motion argues that both claims lack solid evidence.
The lawsuit centers on Apple’s delayed rollout of a more personalized Siri and its compliance with a court order tied to the long-running Epic Games dispute.
Allegations Over AI Delays
According to the filing, a class action led by South Korea’s National Pension Service claims Apple overstated the readiness of new AI features announced in 2024. Plaintiffs argue that delays caused stock losses between May 3, 2024, and May 1, 2025.
However, Apple says there is no proof it knew the features would be delayed when it introduced them. The company also notes that it never guaranteed specific launch dates.
Stock data cited in the case shows Apple shares at $183 on May 3, 2024, rising to $213 by May 1, 2025. The stock now trades at $272. Apple argues that market swings alone do not prove fraud.
Dispute Over Epic Injunction
The second claim focuses on Apple’s response to an injunction in the Epic Games case. Plaintiffs allege that Apple failed to meet court expectations regarding anti-steering rules.
Apple counters that it submitted changes in line with the order. The court later deemed those changes insufficient, but Apple says that does not show intentional misconduct.
In its filing, Apple states that it faced stock volatility in 2025, like many major companies. Still, it argues that temporary price drops do not equal securities fraud.
Market Performance and Outlook
Despite AI delays, Apple products continued to sell well. iPhone demand remained strong, which suggests customers did not base purchases solely on pending AI features.
Apple maintains that investors should not rely on unshipped features when making financial decisions. The company now awaits the court’s decision on whether the case will move forward or be dismissed.
