Apple was hit with a proposed securities-fraud class action in San Francisco federal court on Friday, accusing the company of overstating its progress in integrating advanced artificial-intelligence capabilities into the Siri voice assistant. The lawsuit contends that Apple’s public statements misled investors about how quickly the technology—marketed as “Apple Intelligence”—would be ready, thereby inflating expectations for upcoming iPhone models and the company’s share price. The complaint, led by shareholder Eric Tucker, names Apple Chief Executive Officer Tim Cook, Chief Financial Officer Kevan Parekh and former CFO Luca Maestri as defendants. It alleges that at the June 2024 Worldwide Developers Conference Apple suggested AI-enhanced Siri would be a key selling point for the iPhone 16, even though the company lacked a working prototype. According to the filing, the first signs of trouble surfaced on 7 March 2025, when Apple postponed some Siri upgrades to 2026, and were reinforced at this month’s WWDC, where the company offered few new details on its AI roadmap. Plaintiffs say Apple’s disclosures wiped out “hundreds of billions” of dollars in shareholder value; the stock has fallen almost 25 percent since its 26 December 2024 record high, erasing about US$900 billion of market capitalisation. The suit seeks damages for investors who bought shares during the year that ended 9 June 2025. Apple has not yet commented on the allegations.