Apple agreed to pay $250 million to settle a shareholder lawsuit that alleged that the company failed to add artificial intelligence features to its iPhone at the time it had promised, Reuters reported Tuesday (May 5).
The proposed settlement needs a judge’s approval, and the agreement does not include an admission of fault by Apple, according to the report.
The lawsuit was filed in California and alleged that shareholders were harmed when Apple released iPhones in fall 2024 without AI capabilities the company announced and ran advertisements for earlier in the year.
The AI overhaul of Apple’s Siri voice assistant is set to be unveiled at the company’s annual developer conference in June.
Apple said in a statement provided to Reuters that it has released several other AI features.
“Apple has reached a settlement to resolve claims related to the availability of two additional features,” the company said, per the report. “We resolved this matter to stay focused on doing what we do best, delivering the most innovative products and services to our users.”
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One of the law firms that brought the suit, Clarkson Law Firm, said in a Tuesday press release that the proposed settlement would apply to class members who purchased any iPhone 16 model or select iPhone 15 models between June 10, 2024, and March 29, 2025. Those who submit approved claims can receive between $25 and $95 per device, depending on the volume of claims and other factors.
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