Chegg, Inc. (Nasdaq: CHGG)
A class action has been commenced in the United States District Court for the Northern District of California on behalf of all persons or entities who purchased or otherwise acquired Chegg, Inc. (CHGG) securities between July 30, 2018 through September 25, 2018 (the “Class Period”).
The complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, defendants failed to disclose to investors: (1) that the company lacked adequate security measures to protect users data; (2) that the company lacked the internal controls and procedures to detect unauthorized access to its systems and to its data; (3) that as a result, the company would incur additional expenses and litigation risks; and (4) that, as a result of the foregoing, defendant’s positive statements about the company’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.
If you are a current shareholder and/or purchased stock pursuant during the period between July 30, 2018 through September 25, 2018 and would like to discuss your options of exercising your rights as a shareholder, please contact us.
Please submit the following information so we can determine if you qualify for the suit. If you don't know all the specific details, partial information is also acceptable.