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 violation of §§10 (b) and 20 (a ) of the Securities Exchange Act of 1934 and rule 10b-5 promulgated thereunder by the United States Securities and Exchange Commission.
Investors who purchased the Company’s securities between May 5, 2020 and November 1, 2021 inclusive (the “Recourse Period”), are invited to contact the company before February 21, 2022.
If you are a shareholder who has 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 protected]
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by legal counsel. If you choose not to take any action, you can remain an absent member of the group.
According to the complaint, the company made false and misleading statements to the market. Chegg officers and directors sold $ 95 million worth of stock at inflated prices, including $ 48 million in sales by the co-president, CEO and president of the company and $ 25 million by the president of the Learning division Company services. The company sold over $ 1 billion in stock at these inflated prices in a secondary offering on February 18, 2021. The company and its executives were aware of downturns in business that did not justify the high price of its action. Based on these facts, the Company’s public statements were false and misleading throughout the Class Period. When the market learned the truth about Chegg, investors suffered damage.
Join the case to recoup your losses.
Schall law firm represents investors around the world and specializes in securities class actions and shareholder rights litigation.
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