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NEW YORK, December 02, 2021--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Chegg, Inc. ("Chegg" or the "Company") (NYSE: CHGG) on behalf of Chegg stockholders. Our investigation concerns whether Chegg has violated the federal securities laws and/or engaged in other unlawful business practices.
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"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 or otherwise acquired Chegg shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Alexandra B. Raymond by email at email@example.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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