Apple sued by shareholders for allegedly overstating AI progress

finance.yahoo.com

8 pointsretskrad2 comments

US culture, increasingly so... "Who has money ? Ok, what can we come up with that's even vaguely plausible about them to get them to cough up some of that lovely money they have ?"

Unless it's a slam-dunk, companies don't want to go to court, it's too much of a lottery for them and their over-priced lawyers. So they'll settle, and the principal claimant and their lawyers will make a lot, and everyone who climbs on that bandwagon will make peanuts.

[sigh]

This one has merit though, yes? Apple was all-in on AI in WWDC 2024. Had large billboards, and ads taken out talking up about Apple Intelligence features that were gonna land in the new iPhone. A year later, they have pulled those ads and the promised features never shipped.

If someone bought an iPhone last year hoping for these features, they are right to be upset - and suing the company for damages is the right course of action here.

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