LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Chegg, Inc. (“Chegg” or “the Company”) (NYSE: CHGG) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between May 5, 2020 and November 1, 2021, inclusive (the ''Class Period''), are encouraged to contact the firm before February 21, 2022.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at email@example.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Chegg’s officers and directors sold $95 million worth of stock at inflated prices including $48 million in sales by the Company’s Co-Chairman, CEO and President and $25 million by the Company’s President of the Learning Services division. The Company sold more than $1 billion in stock at these inflated prices in a secondary offering on February 18, 2021. The Company and its executives were aware of slowdowns in the business that did not justify its high share price. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Chegg, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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