| COMPANY |
Chegg, Inc. |
| COURT |
United States District Court for the Northern District of California |
| CASE NUMBER |
21-cv-09953 |
| JUDGE |
Honorable P. Casey Pitts |
| CLASS PERIOD |
May 5, 2020 through November 1, 2021 |
| SECURITY TYPE |
Common Stock |
Case Background:
This is a federal securities fraud class action lawsuit on behalf of all persons and entities that purchased or otherwise acquired Chegg, Inc. (“Chegg”) common stock between May 5, 2020 and November 1, 2021, inclusive (the “Class Period”).
The complaint alleges that throughout the Class Period, the defendants failed to disclose to investors that: (1) 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; (2) 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 (3) as a result, Chegg’s current business metrics and financial prospects were not as strong as it had led the market to believe.
Current Status of Case:
On May 21, 2025, the Court granted the Motion for Final Approval of the Settlement. The Court entered its Final Judgement and Order on June 20, 2025. This action has concluded.
The deadline to file a claim was March 31, 2025. If you have any questions or need further information about this settlement, you may go to the following website www.CheggSecuritiesLitigation.com, or you can contact the claims administrator, A.B. Data, Ltd., at 1-877-884-2550.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.