I am not an investor but they are right. They are right to be angry and they should be paid. Apple lied and misled them.
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Apple Sued by Shareholder Over Delayed Siri Features Allegedly Lowering Stock Price
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My questions are:
1) Has Apple said the iPhone 16s are NOT getting it? If you keep your iPhone 16 long enough, it’s getting it.
2) How does the shareholder know what prototype they did or did not have in-house? Craig Fed has gone on record saying the opposite of what this lawsuit claims regarding working prototypes.
1) Has Apple said the iPhone 16s are NOT getting it? If you keep your iPhone 16 long enough, it’s getting it.
2) How does the shareholder know what prototype they did or did not have in-house? Craig Fed has gone on record saying the opposite of what this lawsuit claims regarding working prototypes.
Ironically the news of this case will cause his stock to drop.
While Apple’s announcing of vapourware features is annoying, I do love to see shareholders lose money.
That’s a frivolous complaint.
If you’re not ready to accept risk, don’t buy stocks.
If you’re not ready to accept risk, don’t buy stocks.
Last years iPhone announcement, commercials, and apples website was covered with AI for almost a year. There’s an argument they had enough wiggle words in there, but there’s a good argument it was misleading.
Big companies also get sued all the time. It’s part of being a big company. It also helps keeps the companies in check. I don’t think Apple would have recalls/replacements nearly as much if it weren’t for various lawsuits.
Gruber not throwing tantrums, he’s serving real journalism, not Apple-flavored Kool-Aid. Banned? Maybe. But trading access for truth? Worth it.
I have to disagree here. If a professional investor puts billions into Apple because of some advertisement on WWDC, he should be fired and never to be hired again.
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Of course it does.
The statement by Tim Cook, "I would not put China in that category" cost Apple $490 million. The statement was not "definitive" and Apple's production cuts didn't happen until days after the conference call. But it was proven that Apple knew demand was down in China.
This Siri lawsuit is the exact same thing. You have Siri boss Robby Walker saying at all staff meeting Apple showed stuff at WWDC that wasn't ready.
In January 2025, Cook was asked during the earnings call if the new Siri would be the killer app. He responded saying "certainly... and that will be coming over the next several months." We now know it's not coming until 2026.
Apple Q1 2025 Earnings Call Transcript | Fortune
Apple designs, manufactures, and sells smartphones, personal computers, tablets, wearables, and accessories. Its best-known products include the iPhone, the Mac line of personal computers, iPad tablets, and accessories like the Air Pods and the AppleWatch. The company’s services include Apple...
Apple literally updated their October 2024 press release to remove the words Siri is "more natural, more contextually relevant" because Siri isn't. Apple has been covering their ass like no tomorrow. You have read the archived version of the press release to see the original text.
Apple Intelligence is available today on iPhone, iPad, and Mac
Through a free software update available today, iPhone, iPad, and Mac users can access the first set of Apple Intelligence features.
www.apple.com
I'm not going to do your homework for you when you can simply read the court document.
…in countries with lack of effective consumer protection laws.
I mean, getting back to the original quote:
Buying something based on advertising
and then having to “agree” to be deprived of the advertised feature that (possibly) made you buy the product in the first place
by merely opening the product box and using the product as intended?
👉 That’s insane legal opinion/reasoning!
Even if you or your jurisdiction agree that EULA - that you are not made aware or present at time of purchase - are valid and enforceable, there are limits to what companies can do.
As for this lawsuit anyway, the purchase and use of an iPhone is no requirement or prerequisite to becoming an Apple shareholder (that may have relied on the announcement).
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Siri in my opinion is not good, but that doesn’t mean that it’s terrible, it’s just… boringly meh
Psychotic that these lawsuits over share prices can even be filed. The very nature of investments is you take risks. You might win and you might lose, that's the ****ing game. I didn't win the Lottery last week, so would it be right for me to sue for my imaginary winnings?! These shareholders are bloodsuckers.
Risky as it may be, investing is not a lottery.
I offered you a lottery where you’d pick numbers from 1 to 69.
And I announced that I’m going to draw lucky number them by randomly picking numbered balls from a barrel.
Then, after the day of the drawing, we’re finding out there were only 66 balls in the barrel.
“Ooops, a ‘very small percentage’ of balls must have got lost somewhere.
Entirely accidentally and unforeseen, of course.
But yeah… mishaps happen sometimes, you know?
I promise to do be more careful and do better next drawing.
Sometimes you’re lucky, sometimes you aren’t.
And sometimes the numbers may be stacked against you.
But since we don’t know whether you picked any of the missing numbers anyway…
There’s no reason or grounds for suing me. That’s just life, ItchyRat2160.”
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I can see why you are outraged by your list of owned product:
-Hermès Apple Watch Series 10 46mm Titanium with Navy Torsade and many other bands
-iPhone 16 Pro Max 512GB black Titanium
-iPad Pro 13" M4 256GB cellular with Magic Keyboard and Pencil Pro
-2024 Mac Mini M4 Pro 14 core & Studio Display, 4TB SSD, 64 GB RAM, 10GbE
Derivative lawsuits happen all the time. What is the precedent here that you think is stupid?
How many times has Elon Musk publicly stated that FSD will be here... I think that he started around 2018. He and Tesla should have been sued into the ground for that, especially as people paid a lot of money extra for it.
In this case, and having been involved in software development for most of my working life, there were many times when we had a proof of concept working. Manglement would take that as a V1.0 product, and we'd spend months rewriting the proof of concept version to make it scalable and have all the functionality that was being promised to customers. Sometimes we would make it in time for the product release, and once it was delayed by 18 months (thanks to a takeover that then cut all development). There were no lawsuits flying around, but this is Apple, so... Sue, sue and sue.
Section 7.3 of the EULA warrants the software as-is and as-available. Section 7.6 provides for no new or implied warranties based off of oral or written statements made by Apple.
But whether what Apple has done constitutes false advertising isn't as clear cut, at least not yet. Apple was very clear both during WWDC and in the iPhone 16 promotional materials that the added AI features were coming later. If the supported devices eventually get the promised features then that's technically not false advertising (even if it is lousy business practice). But if the features are scrapped entirely, or launch but not on the 16 series, then that could be considered false advertising and that would nullify the EULA.
But that's not what this particular case is about anyway. Shareholders do not have to be users of Apple products. Apple set out a roadmap for its AI features and later announced that they missed the mark. The demos of the features at WWDC could be construed by a reasonable person that they were working prototypes. The announcement of further delay caused a notable decrease in the share price from which it has not recovered. The EULA has nothing to do with it. Yes, the stock market can be a risky bet, but companies are legally prohibited from misleading investors that they have working products when in reality they don't (see: Theranos).
I am a shareholder and what frustrates me is not stock price but that I upgraded my iPad from gen-9 to M2-Air because Apple Intelligence was just around the corner. At the development rate, I could have waited for the M5-Air …
The $1,000 monitor stand is up there. I'm not that much of an iNerd, but was this the only time there were audible groans from a live audience during an iStuff product unveiling?
And it's hard to get audible groans from live audiences these days because they really don't do actual live events in front of live audiences anymore. I guess that moment really scared them into thinking that maybe they aren't as beloved as they thought.