Chegg, Inc. The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased Chegg, Inc. (NYSE: CHGG) securities between July 30, 2018 and September 25, 2018.
According to the Chegg lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company lacked adequate security measures to protect users’ data; (2) the Company lacked the internal controls and procedures to detect unauthorized access to its systems and to its data; (3) as a result, the Company would incur additional expenses and litigation risks; and (4) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.
If you suffered a loss in Chegg you have until November 26, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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