RADNOR, Pa., Sept. 28, 2018 (GLOBE NEWSWIRE) -- Kaskela Law LLC announces that an investor class action lawsuit has been filed
against Chegg, Inc. (NYSE: CHGG) (“Chegg” or the “Company”) on behalf of purchasers of the Company’s securities between
July 30, 2018 and September 25, 2018, inclusive (the “Class Period”).
IMPORTANT DEADLINE: Investors who purchased Chegg’s securities during the Class Period and
suffered a financial loss may, no later than November 26, 2018, seek to be appointed as a lead
plaintiff representative of the investor class.
Chegg investors with financial losses in excess of $50,000 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.)
at (888) 715 – 1740, or via email at skaskela@kaskelalaw.com, to discuss this action and their legal rights and options. For
additional information or to learn how to participate in this action please visit http://kaskelalaw.com/case/chegg/.
Chegg is a direct-to-student learning platform that provides educational materials and services to high school and college
students.
On September 25, 2018, the Company reported that an unauthorized party had gained access on or around April 29, 2018 to
approximately 40 million users’ data, including username, email address, shipping address, and hashed Chegg password.
On this news, the Company’s share price fell $3.91, or approximately 12%, to close at $28.42 per share on September 26,
2018, on unusually heavy trading volume.
The investor class action complaint alleges that defendants violated the federal securities laws during the Class Period by
making false and misleading statements and failing to disclose to investors that: (i) the Company lacked adequate security measures
to protect users’ data; (ii) the Company lacked the internal controls and procedures to detect unauthorized access to its systems
and to its data; and (iii) at as a result, the Company would incur additional expenses and litigation risks. The complaint
further alleges that, as a result of the foregoing, investors purchased Chegg’s securities at artificially inflated values during
the Class Period, and have suffered financial damages as a result of defendants’ actions.
Chegg investors with financial losses in excess of $50,000 are encouraged to contact Kaskela Law LLC to discuss this action and
their legal rights and options. Kaskela Law LLC exclusively represents investors in state and federal courts throughout the
country. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.
CONTACT:
KASKELA LAW LLC
D. Seamus Kaskela, Esq.
201 King of Prussia Road
Suite 650
Radnor, PA 19087
(484) 258 – 1585
(888) 715 – 1740
skaskela@kaskelalaw.com
www.kaskelalaw.com
