NEW YORK,
Feb. 11,
2022 /PRNewswire/ -- Jakubowitz Law announces
that a securities fraud class action lawsuit has commenced on
behalf of shareholders of Chegg, Inc. (NYSE: CHGG).
To receive updates on the lawsuit, fill out the
form:
https://claimyourloss.com/securities/chegg-inc-loss-submission-form/?id=23558&from=4
This lawsuit is on behalf of all purchasers of Chegg common
stock between May 5, 2020 and
November 1, 2021, inclusive.
Shareholders interested in acting as a lead plaintiff
representing the class of wronged shareholders have until
February 22, 2022 to petition
the court. Your ability to share in any recovery doesn't require
that you serve as a lead plaintiff.
According to a filed complaint, Chegg, Inc. issued materially
false and/or misleading statements and/or failed to disclose that:
(i) Chegg's increase in subscribers, growth, and revenue had been a
temporary effect of the COVID-19 pandemic that resulted in remote
education for the vast majority of United
States students and once the pandemic-related restrictions
eased and students returned to campuses nationwide, Chegg's
extraordinary growth trends would end; (ii) Chegg's subscriber and
revenue growth were largely due to the facilitation of remote
education cheating – an unstable business proposition – rather than
the strength of its business model or the acumen of its senior
executives and directors; and (iii) as a result, the Company's
current business metrics and financial prospects were not as strong
as it had led the market to believe during the Class Period.
Jakubowitz Law is vigorous in pursuit of justice for
shareholders who have been the victim of securities fraud. Attorney
advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
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SOURCE Jakubowitz Law