Chegg, Inc. Loss Submission Form

The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Chegg, Inc. (NYSE: CHGG) who purchased common stock between May 5, 2020 and November 1, 2021. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.

In particular, the Chegg lawsuit alleges that (i) 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 United States students and once the pandemic-related restrictions eased and students returned to campuses nationwide, Chegg’s extraordinary growth trends would end; (ii) Chegg’s subscriber and revenue growth were largely due to the facilitation of remote education cheating – an unstable business proposition – rather than the strength of its business model or the acumen of its senior executives and directors; and (iii) as a result, the Company’s current business metrics and financial prospects were not as strong as it had led the market to believe during the Class Period.

Shareholders have until February 22, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.

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