Apple was sued in a proposed Securities Fraud Class Action by shareholders on Friday, alleging that it is dying of iPhone sales and its stock price how long it needs to integrate advanced artificial intelligence in its Siri Voice Assistant.

The complaint includes shareholders, which lost hundreds of billions of dollars in the year ending June 9, when Apple offered several features and beauty improvements for its products but kept the change in AI modest.

Apple did not immediately respond to the remarks requests. CEO Tim Cook, Chief Financial Officer Kevan Parekh and former CFO Luka Chest are also defendants in the case filed in San Francisco Federal Court.

Eric Tucker -led shareholders stated that at June 2024 Worldwide Developers Conference, Apple inspired him to assume that AI would be a major driver of 16 equipment, when he launched Apple Intelligence to make Siri more powerful and user adaptable.

But he said that the Cupertino, California-based company lacked a functional prototype of AI-based Siri features, and cannot believe that the features would ever be prepared for the iPhone 16S.

The shareholders said the truth began on March 7 when Apple delayed some Siri upgrade in 2026, and continued through this year’s Worldwide Developers Conference on 9 June, when Apple assessed his AI progress.

Apple’s shares have lost its value almost one-fourth since the record high of 26 December, 2024, which has a market price of about $ 900 billion.

The case is Tucker vs. Apple Inc et al, US District Court, Northern District California, No. 25-05197.