NEW ORLEANS, Jan. 12, 2023 /PRNewswire/ — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until February 22, 2023 to file lead plaintiff applications in a securities class action lawsuit against Chegg, Inc. (NYSE: CHGG), if they purchased the Company’s shares between May 5, 2020 and November 1, 2023, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.
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Chegg investors should visit us at https://claimsfiler.com/cases/nyse-chgg or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Chegg and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On November 1, 2023, the Company announced its third quarter financial results, the first quarter in which students returned to campus across the United States, disclosing fewer than expected online enrollments due to the Covid-19 pandemic and failed to provide guidance for 2023.
On this news, shares of Chegg fell nearly 50%.
The case is Leventhal v. Chegg, Inc., No. 21-cv-09953.
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