NEW ORLEANS, April 12, 2024 /PRNewswire/ — Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Chegg, Inc. (NYSE: CHGG).
Chegg is a publicly traded educational technology company that provides textbook rentals, online tutoring services, and homework help for students. On November 1, 2021, the Company announced its third quarter financial results (the first quarter in which students returned to campuses across the United States), disclosing lower than expected online enrollments due to the Covid-19 pandemic, and also failing to provide guidance for 2022. Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period in violation of federal securities laws; specifically, the frequency of cheating on the Company’s platform and the true drivers of its revenue growth, among other things. Recently, the court presiding over that case denied the Company’s motion to dismiss, allowing the case to move forward.
KSF’s investigation is focusing on whether Chegg’s officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Chegg shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn ([email protected]), or visit us at https://www.ksfcounsel.com/cases/nyse-chgg/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana and New Jersey.
To learn more about KSF, you may visit ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163
SOURCE Kahn Swick & Foti, LLC
