Apple has asked a federal judge to dismiss a proposed class action lawsuit that alleges the iPhone maker defrauded shareholders by overstating Siri’s Apple Intelligence capabilities and by misrepresenting its compliance with the Epic Games App Store injunction.
Apple in June 2024 first said that a slate of Apple Intelligence features would be rolled out over the course of the following year, basically giving Apple until this June’s WWDC 2025 event to roll out the Siri features. However, the company later admitted that many of the features required more time and it expected to roll out the features at some point “in the coming year,” meaning the features will not be ready for prime time until 2026.
The delay led to a March 2025 lawsuit of false advertising and unfair competition. Now, Reuters reports that in a Wednesday filing in San Jose federal court, Apple has argued there is no proof that executives knew at the time that the features would be significantly delayed.
Apple is also pushing back on a separate claims connected to its compliance with the Epic Games App Store injunction, which required the Cupertino firm to allow developers to link to external purchase options outside the App Store’s 30% commission structure.
Judge Yvonne Gonzalez Rogers last year found Apple was in “willful violation” of that injunction, due to the company introducing a new system that still charged developers a 27% fee on external sales. Her findings were partially vacates by a federal appeals court in December.
Apple argued the fraud claims were unsubstantiated.
“It is no secret that Apple faced challenges and weathered ups and downs in its stock price in 2025, like many major companies,” Apple said. “But plaintiff takes a massive and unsupported leap by claiming that securities fraud caused the temporary price drops.”
The lawsuit is led by South Korea’s National Pension Service, the world’s third-largest pension fund, and it covers shareholders who suffered losses between May 2024 and May 2025.
Lawyers for the shareholders have yet to respond publicly to Apple’s filing.