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.
“We are proud to secure a historic settlement on behalf of consumers who should feel confident and protected when deciding where to spend their hard-earned dollars,” Ryan Clarkson, founder and managing partner of Clarkson Law Firm, said in the release.
Another law firm that brought the suit, Cotchett, Pitre & McCarthy, said in a Tuesday press release that millions of consumers bought iPhones based on ads that focused on an AI-powered Siri that was not delivered when promised.
“This $250 million proposed settlement is one of the largest in a false advertising case,” Brian Danitz, a partner at Cotchett, Pitre & McCarthy, said in the release. “If approved by the court, the settlement will provide timely relief to consumers and companies nationwide for Apple’s alleged failure to deliver the AI-enhanced Siri features as advertised.”
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