Labaton Sucharow, a nationally ranked and award-winning shareholder rights firm, notifies investors that a class action lawsuit has been filed against Chegg, Inc. (NYSE: CHGG) on behalf of purchasers of Chegg securities between May 5, 2020, and November 1, 2021, inclusive (the "Class Period"). Chegg investors have until February 22, 2022, to request that the Court appoint you as lead plaintiff.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
"In late September it became clear to us that the education industry is experiencing a slowdown that we believe is temporary and is a direct result of the Covid-19 pandemic," Chegg CEO Dan Rosensweig said in a statement on the afternoon of Monday, November 1, 2021. "A combination of variants, increased employment opportunities and compensation, along with fatigue, have all led to significantly fewer enrollments than expected this semester."
On this news, shares of Chegg plunged 49% on Tuesday, November 2, 2021.
If you purchased CHGG during the Class Period, click here to participate.
If you want to receive additional information and protect your investments free of charge, please contact David J. Schwartz using the toll-free number (800) 321-0476 or via email at david@labaton.com.
About the Firm
Labaton Sucharow LLP is one of the world's leading complex litigation firms representing clients in securities, antitrust, corporate governance and shareholder rights, and consumer cybersecurity and data privacy litigation. Labaton Sucharow has been recognized for its excellence by the courts and peers, and it is consistently ranked in leading industry publications. Offices are located in New York, NY, Wilmington, DE, and Washington, D.C. More information about Labaton Sucharow is available at labaton.com.
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Contacts
David J. Schwartz
(800) 321-0476
david@labaton.com
