Apple Inc. Investors: Please contact the Portnoy Law Firm to recover your losses. August 19, 2025 Deadline to file Lead Plaintiff Motion.
Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, June 26, 2025 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Apple Inc. ("Apple" or the "Company") (NASDAQ: AAPL) investors of a class action representing investors that bought securities between June 10, 2024 and June 9, 2025, inclusive (the "Class Period"). Apple investors have until August 19, 2025 to file a lead plaintiff motion.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
CASE ALLEGATIONS: The Apple class action lawsuit alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose material facts, including that:
(i) Apple misrepresented the timeline for integrating advanced artificial intelligence (“AI”) features into its Siri digital assistant;
(ii) as a result, it was highly unlikely those features would be available in the iPhone 16;
(iii) the absence of such AI capabilities would negatively impact iPhone 16 sales; and
(iv) Apple’s business outlook and financial projections were therefore overstated.
According to the Complaint, on March 7, 2025, Apple announced an indefinite delay of its promised Siri updates. Following this news, Apple’s stock price declined.
On March 12, 2025, Morgan Stanley analyst Erik Woodring lowered his price target for Apple from $275 to $252, citing the Siri delays as a factor likely to impact iPhone upgrade cycles through 2025 and 2026. The analyst also noted that approximately 50% of users who opted not to upgrade to the iPhone 16 cited the absence of the promised AI features. Apple’s stock declined further on this news.
Then, on April 3, 2025, The Wall Street Journal published an article titled “Apple and Amazon Promised Us Revolutionary AI. We’re Still Waiting,” which criticized Apple for marketing AI features it had yet to deliver and cautioned against announcing products before they are ready. On this news, Apple’s stock price fell more than 7%, according to the Complaint.
Finally, on June 9, 2025, at its Worldwide Developers Conference (WWDC)—nearly a year after first unveiling the upcoming “Apple Intelligence” features—Apple failed to provide any meaningful updates regarding advanced Siri capabilities. The stock declined again following the event.
The Complaint notes that Robbins Geller Rudman & Dowd LLP, the firm leading this case, previously secured a $490 million recovery in a securities fraud case involving Apple and CEO Tim Cook—the third-largest securities class action recovery ever in the Northern District of California and fifth-largest in the Ninth Circuit. In approving that settlement, the court commended the firm’s skill, strategic vision, and ability to efficiently navigate a complex case against sophisticated counsel and defendants.
Please visit our website to review more information and submit your transaction information.
The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
Attorney Advertising
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
