Investigation announced for Long-Term Investors in shares of Chegg, Inc. (NYSE: CHGG)

An investigation was announced for long-term investors in shares of Chegg, Inc. (NYSE: CHGG) concerning potential breaches of fiduciary duties by certain directors of Chegg, Inc.

Investors who are current long term investors in Chegg, Inc. (NYSE: CHGG) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm for current long term investors in NYSE: CHGG stocks follows a lawsuit filed against Chegg, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: CHGG stocks, concerns whether certain Chegg directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Northern District of California the plaintiff alleges that the defendants made false and misleading statements and failed to disclose that 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 U.S. students and once the pandemic-related restrictions eased and students returned to campuses nationwide, Chegg's extraordinary growth trends would end, that Chegg's subscriber and revenue growth were largely due to the facilitation of cheating - an unstable business proposition - rather than the strength of its business model or the acumen of its senior executives and directors, and that as a result, Chegg's current business metrics and financial prospects were not as strong as it had led the market to believe between May 5, 2020 and November 1, 2021.

Those who purchased shares of Chegg, Inc. (NYSE: CHGG) have certain options and should contact the Shareholders Foundation.

Contact:
Christopher Clausen
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.