If successful, the precedent it sets would be bad for any publicly traded company. If Apple made announcements with the sole intent of inflating their stock price, there would be a case. But, that is clearly not what happened. The stock market is a casino, this guy placed a bet on Apple succeeding. Sorry that bet didn’t pan out… if you’re mad, pull your chips (sell your stock) and go play elsewhere.
And as far as false advertising, I’m sure there is something in Apple’s EULA that covers delayed and canceled features that no one reads when they tap the Agree button the first time they power up their device.